RI - China Trade Target Set At US$100 Billion

Jakarta, Oct 17 (Antara) - Trade Minister Gita Wirjawan said trade between Indonesia and China could rise to US$100 billion in value if China succeeds in its program to create a consumption based economy . Currently trade between China and Indonesia is valued around US$52 billion a year. "The annual trade value could increase to US$80 billion - US$100 billion in the coming several years after China changes its economic structure, Gita said here on Thursday. Gita said Chinese domestic consumption is still below 30 percent of its Gross Domestic Product (GDP), and now it is seeking to raise the portion. Indonesian consumption already reaches 55 percent of the country`s GDP. He said the world`s second largest economy is shifting its focus of development to its western regions . In the future, Chinese industry would no longer be export oriented but a bigger part of its manufacturing production would be for domestic consumption, he said. He said the change in the Chinese strategy from investment and export based to consumption based economy would have no effect on Indonesian exports to that country. "Even if they succeed in increasing the portion of domestic consumption , they still needs our products as China is a big consumer," he said.