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U.S., Indonesia to deepen trade, investment relations
POSTED: 10:24 a.m. EDT, May 22,2007

The United States and Indonesia agreed on Monday to establish working groups intended to deepen the trade and investment relations between the two countries.

The establishment of groups, proposed by U.S. States Trade Representative Susan C. Schwab and Indonesian Minister of Trade Mari Pangestu, will focus in four key areas: intellectual property rights, agricultural and industrial goods, services and investment.

"I am pleased that The United States and Indonesia made additional progress in deepening our trade and investment relationship in our meetings this week," said Schwab after the meeting with Pangestu.

The two top trade officials discussed how they could work together to advance ASEAN (Association of Southeast Asian Nations) integration and to help achieve a successful outcome to the ongoing WTO Doha Round negotiations, said Schwab.

"Indonesia is the largest economy in Southeast Asia and a major exporter of both agricultural and manufactured goods, so it has a lot to gain from a successful Doha Round," Schwab added.

Indonesia is the U.S. 31st largest trading partner. Two-way trade totaled 16.5 billion dollars last year, a 9.3-percent increase over 2005. And U.S. foreign direct investment in Indonesia was 9.9 billion dollars in 2005, showed the latest data available.

From:xinhua
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