Ministers see opportunities for JVs and SEZs

India has raised the issue of market access to automotive and auto components manufactured in India with Indonesia.

Commerce and Industry Minister Suresh Prabhu met Indonesian Trade Minister Enggartiasto Lukita and raised the issue of market access and regulatory barriers concerning Pharma, Health, Dairy Products and Bovine Meat.

Greater investment opportunities for joint ventures, textile machinery manufacturing, textile parks and Special Economic Zones (SEZs) were also discussed during Lukita’s visit to New Delhi.

The Indonesian side agreed to conduct inspection visits for registering Dairy Products, Fresh Food of Plant Origin and Meat Processing facilities, according to the Public Information Bureau release on 25 September 2017.

The two ministers held the 2nd India-Indonesia Biennial Trade Ministers’ Forum Meeting.

Both Ministers agreed for convening early meeting of the Working Group on Trade & Investment and the Working Group on Trade Facilitation & Remedies, to address the issues impeding trade and identifying means of facilitating trade and investment between India and Indonesia.

These Working Groups will also look into facilitation of services and areas of mutual interest between both the countries.

Prabhu and Lukita also agreed to hold a ‘Meeting of Regulators’ to resolve issues concerning the Pharma and Health sectors.

The Ministers agreed to deepen economic cooperation and bilateral trade by having greater cooperation of the stakeholders, including Government business, entrepreneurs etc.

The Minister of Commerce and Industry of India urged his Indonesian counterpart to utilise the opportunities presented by the ‘Make in India’, ‘Invest India’ and ‘Start-up India’ initiatives. fii-news.com