Indonesia, US eager to deepen trade and investment ties

Washington (ANTARA News) - The United States and Indonesia agreed Monday to launch working groups aimed at strengthening bilateral trade and investment relations, the Office of the U.S. Trade Representative said.

The accord was made at a meeting in Washington between U.S. Trade Representative Susan Schwab and Indonesia's Trade Minister Mari Pangestu, the USTR was quoted by Kyodo as saying in a statement.

The working groups will cover four areas of mutual interest -- intellectual property rights, agricultural and industrial goods, services, and investment, it said.

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

She said both sides discussed how to advance the integration of the 10-member Association of Southeast Asian Nations and to help bring the Doha Round of multilateral trade liberalization talks under the World Trade Organization to a successful conclusion.

"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 said.

Indonesia is the United States' 31st-largest trading partner. Two-way trade totaled $16.5 billion in 2006, up 9.3 percent from the previous year and U.S. foreign direct investment in Indonesia was $9.9 billion in 2005, according to the latest available U.S. figures.