Airlangga Meets British Delegation To Discuss Increased Trade And Investment Cooperation

Coordinating Minister for Economic Affairs Airlangga Hartarto met with the UK PM's Special Envoy for Trade for ASEAN in Jakarta, Thursday 2 November. (Ist)

Coordinating Minister for Economic Affairs Airlangga Hartarto has again received Richard Graham as the Special Envoy for the Trade of the British Prime Minister for Indonesia, the Philippines, Malaysia, and the ASEAN Economic Community in Jakarta, Thursday, November 2. This is the second meeting this year, after the previous meeting was held in June 2023.

On this occasion, Coordinating Minister Airlangga and Special Envoy Richard Graham discussed efforts to increase trade and investment cooperation between Indonesia and the UK, as well as several developments in cooperation in the education and health sectors.

Richard Graham congratulated Indonesia on its achievements as a full member of the Financial Action Task Force (FATF).

"Indonesian membership in the FATF will provide a positive image of the credibility of the Indonesian financial system in the world," said Richard.

Regarding trade cooperation, the two parties appreciate the development of dialogue within the framework of the Joint Economic and Trade Committee (JETCO). The meeting also agreed to encourage the assessment of the Free Trade Agreement (FTA) free trade negotiations.

"The sooner the discussion related to the FTA begins, the better the economic relations between the two countries will be," said Airlangga in his statement, Sunday, November 5.

On the other hand, the UK also has the same vision to expand its network of economic partnerships to all regions in the world. Richard conveyed the good intention of starting a FTA assessment and promising a flexible negotiation approach.

The formation of the FTA will benefit the two countries, not only in the trade of goods, but also in the trade of services and investment. We promise to provide a flexible and better negotiation approach," said Richard.

In addition, developments related to Britain's joining in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade agreement were also a hot discussion at the meeting.

It was stated that the UK signed an accession protocol last July and is currently in the ratification stage. Membership in CPTPP can be an alternative for Indonesia to improve economic relations not only with the UK, but also with 11 other Pacific countries.

In the field of educational cooperation, Richard also expressed his appreciation for the encouragement and assistance in realizing cooperation between the Singhasari Special Economic Zone (SEZ) and Kings College London (KCL). KCL is planned to start opening its study program in Indonesia in September 2024.

Then, the meeting also discussed several other cooperation issues in the field of halal certification, agricultural commodities, to the potential for cooperation in the manufacturing sector of medical devices and pharmaceuticals in the Indonesian SEZ.