RI, Myanmar Agree To Increase Trade In 2016

Nusa Dua, Bali, June 12 (Antara) - The governments of Indonesia and Myanmar have agreed to increase trade value to US$1 billion in 2016, according to Foreign Affairs Minister Marty Natalegawa. "Speaking about economic cooperation, especially in trade, we have set ourselves the target of achieving a trade value of US$1 billion in 2016," Marty said after a bilateral meeting with his Myanmar`s counterpart Wunna Maung Lwin here on Wednesday. During the Indonesia-Myanmar joint commission meeting, Marty revealed that besides increasing the trade value, the two countries also have agreed to step up investment value and economic cooperation. He noted that Indonesia was optimistic about stepping up economic cooperation with the former military junta because Myanmar has undergone a positive transformation to encourage greater economic opportunities between the two countries. "Myanmar has undergone a positive and fundamental transformation in creating an overall change in the Southeast Asian region," Marty said. Bilateral trade between Indonesia and Myanmar in 2012 reached US$ 465 million, up by 7.98 percent from US$430.7 million in 2011. While investment value in 2012 was US$ 241.5 million, and it was predicted to increase this year in line with improvement of the reformation in Myanmar. Meanwhile, Myanmar`s Foreign Minister Wunna Maung Lwin said he has discussed the improvement in bilateral, regional, and international cooperation with Marty Natalegawa. "We would like to improve our cooperation in agriculture, technology, in addition to preventing and addressing cross-country crime, and human capacity development," he said.