Indonesia's Chamber of Commerce Chair on Striking a Trade Deal with the U.S.

Indonesia-U.S. Trade Negotiations

• 🤝 The Chairman of the Indonesian Chamber of Commerce and Industry, Anindya Bakrie, is optimistic about striking a trade deal with the U.S. within a 90-day timeframe.
• 💡 Indonesia aims to reallocate its $40 billion in oil and gas derivative imports to address its $18 billion trade surplus with the U.S.
• 📈 The goal is to enlarge the trade cake, with the U.S. looking to export more soybean, wheat, and cotton, while Indonesia seeks to increase exports of footwear, garments, and electronics.

Expanding Trade and Investment

• 🛍️ Bakrie has met with stakeholders in the U.S., including buyers of Indonesian apparel and footwear, with one company selling 250 million pairs of merchandise.
• 💰 Indonesia is also exploring co-investments with the U.S., attracting significant foreign direct investment and having the capacity to invest in the U.S. supply chain.
• 🏦 Indonesia's sovereign wealth fund has an asset under management of $900 billion, generating substantial annual dividends that could facilitate co-investments.

Bilateral Relations and Future Outlook

• 🌐 Bakrie emphasizes the importance of trust between the two governments and Indonesia's approach of seeking mutual growth rather than conflict.
• 🎓 He highlights the strong people-to-people relationship, noting that many Indonesian cabinet members are U.S. university graduates.
• 🚀 The current $40 billion trade can potentially double within two years through balanced negotiations and expanded cooperation.