ID :
158138
Wed, 01/26/2011 - 03:55
Auther :
Shortlink :
https://oananews.org//node/158138
The shortlink copeid
INDIA-INDONESIA TO UP TRADE TO US$25 BILLION BY 2015
NEW DELHI, Jan 26 (Bernama) -- Visiting Indonesian president Susilo Bambang
Yudhoyono set a new trade momentum Tuesday with India, Asia's third largest
economy, with his stable government determined to double trade figures by 2015
and open a new vista in trade ties.
Impressed by India's new economy, Susilo, president of the 230-million
strong population of Indonesia, an old trade ally of India, said his country was
ready to take existing trade ties to a new plateau.
"It is nice to feel the pulse of India and the only way for both India and
Indonesia is to go upward. The potential and prospects of our two nations was
captured in the strategic partnership launched in 2005, which is growing by the
day and enriching our bilateral relations.
"Our next target is to double our bilateral trade to US$25 billion (RM75.5
billion) in the next five years," he told a galaxy of India's industry captains
gathered at a business dialogue held in conjunction with Susilo's visit to
Delhi.
A total of 18 commercial memoranda of understanding, worth US$20 billion
(RM62 billion), ranging from infrastructure, science and technology, oil and
gas, to mining and manufacturing, were signed.
Last year, trade between both countries stood at US$12.5 billion (RM38.75
billion).
In his keynote address, Susilo said Indonesia's economic graph was on the
upward trend, with its GDP (gross domestic product) growth jumping from 4.5 per
cent in 2009 to six per cent last year.
This growth trajectory, he attributed largely, to sound financial and stable
macro-economic policies, which spurred exports, poverty reduction and renewed
domestic demand in the world's fourth most populace nation.
Susilo is on a three-day state visit to India from January 24-26 and would
be the chief guest on India's Republic Day on January 26.
This year also marks 60 years of diplomatic relations between both nations.
The 61-year-old leader also called on for cooperation in the film, fashion,
music and handcraft industries -- where both India and Indonesia have rich
talents.
Yudhoyono set a new trade momentum Tuesday with India, Asia's third largest
economy, with his stable government determined to double trade figures by 2015
and open a new vista in trade ties.
Impressed by India's new economy, Susilo, president of the 230-million
strong population of Indonesia, an old trade ally of India, said his country was
ready to take existing trade ties to a new plateau.
"It is nice to feel the pulse of India and the only way for both India and
Indonesia is to go upward. The potential and prospects of our two nations was
captured in the strategic partnership launched in 2005, which is growing by the
day and enriching our bilateral relations.
"Our next target is to double our bilateral trade to US$25 billion (RM75.5
billion) in the next five years," he told a galaxy of India's industry captains
gathered at a business dialogue held in conjunction with Susilo's visit to
Delhi.
A total of 18 commercial memoranda of understanding, worth US$20 billion
(RM62 billion), ranging from infrastructure, science and technology, oil and
gas, to mining and manufacturing, were signed.
Last year, trade between both countries stood at US$12.5 billion (RM38.75
billion).
In his keynote address, Susilo said Indonesia's economic graph was on the
upward trend, with its GDP (gross domestic product) growth jumping from 4.5 per
cent in 2009 to six per cent last year.
This growth trajectory, he attributed largely, to sound financial and stable
macro-economic policies, which spurred exports, poverty reduction and renewed
domestic demand in the world's fourth most populace nation.
Susilo is on a three-day state visit to India from January 24-26 and would
be the chief guest on India's Republic Day on January 26.
This year also marks 60 years of diplomatic relations between both nations.
The 61-year-old leader also called on for cooperation in the film, fashion,
music and handcraft industries -- where both India and Indonesia have rich
talents.
