The UK and Indonesia already have a £2.6 billion trading relationship – that is almost 60 trillion Indonesian Rupiah. We estimate British businesses employ 1 million people in Indonesia. And Indonesia is going from strength to strength, so we think there is huge potential for us to develop our trade and investment relationship – making it even greater. I believe we have covered a lot of important ground today on how we could do this for the benefit of both our economies.
On future ambition we agreed to look at ways to enhance our trade relationship.
On renewables and clean growth, Indonesia’s renewable energy potential is five times the size of its current energy production capacity. Indonesia could be a clean energy superpower, UK companies are helping to bring innovative technologies in areas like tidal energy, and there’s lots of potential in hydrogen.
So, the UK Government is fully behind Indonesia’s efforts to realise this potential, and ready to collaborate to realise all our COP26 commitments.
For food and drink and agricultural commodities I look forward to progress that allows new products, from both our countries, to find space in the others’ shops and supermarket shelves. I have no doubt that Indonesian food and drink can be popular in the UK.
Earlier today, I was also pleased to visit the impressive Jakarta MRT. There are great opportunities for UK companies and UK finance to play a big role in the next phase of development. UK Export Finance has £4billion – that’s 77 trillion Indonesian Rupiah – available and ready to be used for purchases by Indonesian buyers from the UK.
In short, Minister Lutfi, I believe we have identified a route for expanding our future trading relationship, and I envisage UK investment in Indonesia going from strength to strength.
I look forward to welcoming you and your team to London next year for our second JETCO and to reviewing the progress we have made as this year progresses.