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Indonesia, Colombia to undertake feasibility study on market access

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Antara News - 14 November 2019

Indonesia, Colombia to undertake feasibility study on market access

“"The joint feasibility study will be conducted to explore the possibility of deepening the access of several Indonesian export goods to the Colombian market."”

Indonesia and Colombia have agreed to shortly initiate a Joint Feasibility Study (JFS) under its efforts to tap avenues for increasing access of several Indonesian export goods to the Colombian market.

The two nations reached the agreement during the Preparatory Meeting of the Indonesia-Colombia Future Trade Agreement held recently in Bogota, Colombia. "The joint feasibility study will be conducted to explore the possibility of deepening access of several Indonesian export goods to the Colombian market," Director of Bilateral Negotiations of the Indonesian Trade Ministry Made Marthini noted in an official statement released on Thursday.

Marthini made the remarks during a recent meeting with Vice Minister for Foreign Trade of the Colombian Ministry for Trade, Industry, and Tourism Laura Valdivieso Jimenez.

To conduct the joint feasibility study, Indonesia and Colombia also reached an agreement on the terms of reference for the joint feasibility study due to be completed in June 2020.

The terms of reference for the joint feasibility study constitute the manifestation of the high-level of commitment of the two countries’ delegations. The outcomes of the study will come in the form of a recommendation for the trade minister to sign the Indonesia-Colombia trade agreement," she stated.

This achievement is a positive step within the framework of the Indonesian government’s active approaches to traditional markets in Latin America, she remarked.

The achievement is attributable to the support of the Indonesian Embassy in Bogota and the Colombian Embassy in Jakarta that followed up on communication between the trade ministers of both nations, she stated.

The Preparatory Meeting of the Indonesia-Colombia Future Trade Agreement was held to follow up on the two countries’ plan to establish a bilateral trade agreement in future, she noted.

The endeavor is expected to help both nations to optimally capitalize on the trade potentials, she added.


 source: Antara News