Indonesia, India seek measures to bolster bilateral trade
New Delhi (VNA) – 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.
According to Press Trust India (PTI) news agency, the issues
were discussed during a meeting between Indian Minister of Commerce and
Industry Suresh Prabhu and his Indonesian counterpart Enggartiasto Lukita.
A
statement of the Indian Ministry of Commerce and Trade said the Indonesian side
has agreed to inspect the registering of dairy products and meat processing
facilities.
The
statement further said the issue of market access to automotive and auto
components manufactured in India was also raised, along with the greater
investment opportunities for joint ventures, textile machinery manufacturing,
textile parks and special economic zones.
It
added that the ministers agreed to deepen economic cooperation by having
greater cooperation of stakeholders, including government and businesses.
Both
ministers consented to hold a meeting of regulators to resolve issues
concerning the pharmacy and health sectors.
Furthermore,
they also reached consensus on the early organisation of a meeting of the
working groups on trade and investment and trade facilitation and remedies to
address issues impeding trade.
Bilateral
trade between India and Indonesia increased to 16.92 billion USD in 2016-2017
from 15.95 billion USD in the previous fiscal year.-VNA