The extension of exclusive economic partnership between Indonesia and the USA

Very recently, the government of Indonesia and the government of the USA reached an agreement to extend their exclusive economic partnership in form of a Generalized System of Preference (GSP). This newly signed GSP was made possible by the trade representative of the Ministry of Trade of Indonesia in Washington DC and it would ensure that some of the most strategic export commodities from Indonesia would still enjoy a free of charge entrance fee to enter the USA. This would mean that the Indonesian manufacturers can offer their commodities at a more competitive price. Two seafood commodities that were included in the deal are shrimp and tuna, for which the USA has been one of the biggest importers. This deal would run until the end of October 2021.