Tuesday, October 6, 2009

U.S.-Indonesia Bilateral Agreement to Spur Trade Liberalization

The US-Indonesia bilateral partnership agreement to be signed at the end of this year could lead to the removal of tariffs on some Indonesian products such as textiles, said representatives of the business community.

The Comprehensive US-Indonesia Bilateral Partnership agreement was proposed by President Susilo Bambang Yudhoyono in November and accepted in principle by Hillary Clinton, the US secretary of state, in February. It will address issues including trade relations, education, democracy and reform, food security and climate change.
Meanwhile, US businesses are demanding more legal certainty in Indonesia, including clarification of vague and often contradictory regulations. If some of these conditions are met, US companies have promised to boost investment in Indonesia.

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