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Indonesia, India seek measures to bolster bilateral trade

India raised the issue of market access and regulatory barriers that its companies are facing in Indonesia in pharmacy, dairy and bovine meat, said the country’s Ministry of Commerce and Industry on September 25.
Indonesia, India seek measures to bolster bilateral trade ảnh 1India has raised the issue of market access and regulatory barriers that its companies are facing in Indonesia in pharmacy, dairy and bovine meat (Illustrative photo: VNA)

New Delhi (VNA) – India raised the issue of market access and regulatorybarriers that its companies are facing in Indonesia in pharmacy, dairy andbovine meat, said the country’s Ministry of Commerce and Industry on September25.

According to Press Trust India (PTI) news agency, the issueswere discussed during a meeting between Indian Minister of Commerce andIndustry Suresh Prabhu and his Indonesian counterpart Enggartiasto Lukita.

Astatement of the Indian Ministry of Commerce and Trade said the Indonesian sidehas agreed to inspect the registering of dairy products and meat processingfacilities.

Thestatement further said the issue of market access to automotive and autocomponents manufactured in India was also raised, along with the greaterinvestment opportunities for joint ventures, textile machinery manufacturing,textile parks and special economic zones.

Itadded that the ministers agreed to deepen economic cooperation by havinggreater cooperation of stakeholders, including government and businesses.

Bothministers consented to hold a meeting of regulators to resolve issuesconcerning the pharmacy and health sectors.

Furthermore,they also reached consensus on the early organisation of a meeting of theworking groups on trade and investment and trade facilitation and remedies toaddress issues impeding trade.

Bilateraltrade between India and Indonesia increased to 16.92 billion USD in 2016-2017from 15.95 billion USD in the previous fiscal year.-VNA

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