Economic cooperation priority for ASEAN-India ties: Minister

08 January, 2018 | Source: Antara News

Indonesia`s Foreign Affairs Minister Retno LP Marsudi stated that economic cooperation should be prioritized in ASEAN and India relationship.

We have to take the opportunity from global economic recovery," Marsudi said here on Saturday.

ASEAN and India have the potential to generate the world`s economy, with its huge market of more than 2 billion population and total Gross Domestic Product of US$25 billion.

"Our trade and investment have moved toward an increase, although it is yet to reach its actual potential. For instance, total trade in 2016 had reached $58.4 billion," she stated.

Foreign direct investment from India to ASEAN has been recorded at $1.05 billion.

"We have to double our efforts to increase two-way cooperation in trade and investment," she noted.

ASEAN and India should also work harder to speed up the comprehensive regional economic partnership, she added.

"Economic integration could benefit all of us," the minister remarked.

In addition, she revealed that business-to-business relations must be strengthened, as India has been a strategic partner for Indonesia.

Indonesia has a strong commitment to improve its contribution to the region.

 

Indonesian oil and gas company Pertamina and Omani company Overseas Oil & Gas (OOG) here on Monday expressed commitment to developing the Grass Root Refinery (GRR) project or constructing a new refinery in Bontang, East Kalimantan.
Member countries of the Association of Southeast Asian Nations (ASEAN) are expected to open their markets for startup companies from the region, especially unicorn startups, to boost development of the regional digital economy.
Indonesia, through the Ministry of Trade, is seeking to expand markets for its crude palm oil (CPO) products and derivatives to new export destinations in the Middle East, South Asia, and other regions.
North Maluku Cultural Heritage Preservation Agency (BPCB) explored the legacy of prehistoric rock art in the form of hand-drawn paintings and other motifs on walls of caves on Kisar Island, Southwest Maluku District, Maluku Province.
Executive Director of the BI Communication Department Agusman said that Indonesia`s national economy posted solid growth in the third quarter of 2018, namely 5.17 percent (yoy), on the back of domestic demand.
President Joko Widodo (Jokowi) talked about the role of small and medium enterprises (SMEs) to promote inclusivity and reduce inequality in the globalization era, during the working lunch of the APEC Summit in Port Moresby, Papua New Guinea, on Sunday.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669
E-mail: embassy@indonesianembassy.hu