The 2nd Biennial Trade Ministers Forum (BTMF) meeting held at New Delhi between delegations led by the Minister of Commerce and Industry of India, Suresh Prabhu and the Minister of Trade of the Republic of Indonesia, Enggartiasto Lukita. The meeting was preceded by a Senior Official’s meeting where ground work was done for the BTMF 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 Commerce Minister of India raised the issue of market access and regulatory barriers concerning Pharma, Health, Dairy Products and Bovine Meat. The Indonesian side agreed to conduct inspection visits for registering Dairy Products, Fresh Food of Plant Origin and Meat Processing facilities. The issue of market access to automotive and auto components manufactured in India was raised, along with the greater investment opportunities for joint ventures, textile machinery manufacturing, textile parks and Special Economic Zones.
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.