Apr 04 21:56
RI, US to revive trade investment forum

Jakarta (Antara News) - The Indonesian and US governments as well as private parties have agreed to revive the US-Indonesia Trade and Investment Forum (USITIF) for discussing various trade opportunities, obstacles and investment, Trade Minster Mari Pangestu is reported to have said in Washington DC on Monday.

"We agreed to revive the US-Indonesia Trade and Investment Forum (USITIF) that will be held once a month. The participants will be government officials and private business representatives from the two countries," the minister aid after attending a "US and Indonesian Government and Private Round Table" in the US capital.

Pangestu arrived in Washington Monday for a two day visit. She has held meetings with US Commerce Secretary Carlos Gutierrez, deputy state secretary Ms Josette Shiner and deputy state secretary Robert Zoellick.

She is also scheduled to meet with officials from the US-Asean Business Council, the World Bank and the Institute for International Economics.

The minister in a meeting with Robert Zoelick discussed various important issues in the economic relations between Indonesia and the US.

They also discussed Indonesia`s efforts in improving investment climate including the issuance of an investment policy package and the process of revision of the labor law.

Zoellick on behalf of his government expressed appreciation to various efforts that had been made by the Indonesian economic team to increase the country`s growth and economic competitiveness. He hoped the efforts would attract US businessmen to invest in the country and promote bilateral trade between the two countries.

Zoellick also underlined the important role of the country in Asia and hoped it could complete economic revivals in China and India.

In a meeting with Carlos M Guitierrez Minister Mari Pangestu meanwhile discussed Asean development and its benefit for US businessmen.

The two also discussed policy changes that had been taken by the Indonesian government such as in the fields of investment and manpower.

Indonesia has asked the US trade department to encourage US big businesses to invest in the country following trends in relocation of industries to the country such as shoe manufacturing, textile and garment industries.(*)
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