US Seeks "win-win" trade ties with Indonesia
Added On April 21, 2017
U.S. Vice President Mike Pence says the U.S. government is seeking a "win-win" trade relationship with Indonesia.
The remarks came as Washington reviews trade with 16 partners which have led U.S. suffering from deficit.
Pence and Indonesian President Joko Widodo met in Jakarta on Thursday, agreeing on free and fairer trade which can spur economic expansion in both nations.
Pence said U.S. exporters should face a level playing field and the trade relations should be "win-win."
SOUNDBITE(ENGLISH): MIKE PENCE, US Vice President
“We believe we still have significant room for progress. Under president Trump leadership, the United States seek trade relationship that are both free and fair for job creation and economic growth for both parties as you president Widodo has said so often we are looking for win-win relationship and we are confident we can find it on an increasing basis.”
Indonesian President Widodo said there will be a team to discuss the management of bilateral trade and investment based on the "win-win" solution.
Widodo also said the two nations would look to strengthen their strategic partnership, using trade that works for both.
SOUNDBITE(BAHASA INDONESIA): JOKO WIDODO, Indonesian President 02:28--3:16
"We have talked about several bilateral and international issues. First, United States commits to improve its strategic partnership with Indonesia by focusing on trade and investment cooperation. Next month, teams will negotiate investment and trade regulations based on win-win solution principle."
Indonesia, southeast Asia's biggest economy, is among the 16 U.S. trade partners under review for having a trade surplus with the United States.
Indonesian Vice President Jusuf Kalla says Indonesia's low importation from the United States is partly due to high price of the products.
According to Indonesian trade ministry, the total trade volume between Indonesia and the United States reached 23.4 billion U.S. dollars last year, with Indonesia having a surplus of 8.8 billion U.S. dollars.
Indonesia mainly ships textiles, seafood and footwear to the United States, and mainly imports aircraft, machinery and soybean from the world's largest economy.
Pence is currently on a tour of Asia. He arrived in Jakarta on Wednesday evening for a two-day visit to the country.