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Media Release : The Second Indonesia-Malaysia Joint Trade and Investment Committee (JTIC) Meeting, Jakarta, 30 June 2016

1. YB Dato 'Sri Mustapa Mohamed, Minister of International Trade and Industry will lead the Malaysian delegation to the Second Joint Trade and Investment Committee (JTIC) meeting between Malaysia and Indonesia scheduled to be held in Jakarta, Indonesia on June 30 2016. This JTIC Meeting will be co-chaired with H.E Thomas Trikasih Lembong, Minister of Trade of Indonesia. This is the first JTIC to be co-chaired by the two Ministers.
2. JTIC is a platform to strengthen trade and investment ties between Malaysia and Indonesia. Through this platform, the proposed collaboration and emerging issues relating to bilateral economic relations can be discussed and settled diplomatically, constructively and orderly. The first JTIC meeting was held in Kuala Lumpur on 15 October 2008.
3. For the second JTIC Meeting, among key issues that have been identified to be discussed include the cross border trade, and export of Malaysian halal products to Indonesia.
4. Indonesia is Malaysia’s 7th largest trading partner and the 3rd largest among the ASEAN countries. Total trade between Malaysia and Indonesia have increased by 0.8% from RM59.7 billion in 2014 to RM60.2 billion in 2015. However, in terms of investment, Indonesia is an important destination for Malaysian investors. Malaysia’s investment in Indonesia stood around RM60 billion, mostly in key sectors such as oil palm plantation sector, banking, oil and gas, telecommunications and construction. In 2015, Malaysia was the 2nd largest investor in Indonesia with a total investment of USD3.1 billion, behind Singapore (USD5.9 billion).
5. There are many business opportunities exist between the two countries. With a total population of 255 million people, Indonesia provides potential huge market to be tapped by Malaysian companies. Malaysia at the same time needs to ramp up its efforts in attracting more investment from Indonesia.
6. In this regard, JTIC meeting with Indonesia is important as there are various proposals of cooperation in trade and investment issues to be discussed between the two countries. JTIC meeting will benefit Malaysia in highlighting issues that need to be resolved in order for us to continue expanding our trade and investment.
7. Besides JTIC, The Minister of International Trade and Industry will also take the opportunity to have a discussion with Indonesian business community in order to identify business opportunities and investments in Malaysia. In addition, the Minister will also meet the Malaysian diaspora to share the Malaysian latest developments in the economy.

Ministry of International Trade and Industry
29 June 2016

Last Updated 2016-06-30 08:56:16 by Azuna Hasbullah atau Abd Rahman

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