Get password
   
Search Product
Please select
 
Services
Product Categories
Message Board
Partners




Co-Funded

more details..

Indonesia knits Closer Strategic Partnership with China


Sunday October 29, 2006

Indonesia hopes to increase its trade volume with to $30 billion by 2010, Indonesian Ambassador Sudrajat said on Wednesday (18/10/06), as reported by Indonesia’s Trade and Investment News. 

"Indonesia is looking forward to the China-ASEAN summit at the end of the month, and President Susilo (Bambang Yudhoyono) will be in attendance," Sudrajat was quoted as saying by Xinhua. 

The summit will be held on October 30-31 in Nanning, capital of south China's Guangxi Zhuang Autonomous Region, to commemorate the 15th anniversary of the establishment of the China-ASEAN dialogue. 

The launch of a strategic partnership between the two nations in 2005 was a milestone in Indonesia-China diplomatic history, he said, hailing the sound development of bilateral cooperation in various fields in recent years. 

Indonesia is the largest economy in ASEAN, and is its fourth largest trade partner.  "The two-way trade volume has reached $16.7 billion and we expect the trade to surpass $30 billion in 2010," the ambassador said.  He also called for an increase in mutual investment and hoped the two countries would intensify cooperation on oil, coal and the joint exploration of mineral ores. 

Meanwhile, Indonesia's and China’s agreement to lift import duties on chili powder and cocoa, respectively, will take effect on January 1, 2007, Trade Minister Mari Pangestu said
Wednesday

According to the agreement, Indonesia will reduce import tariff on chili powder from China from 10% percent to 0%, and will decrease the tariff on cocoa from from 15% to 0%.  The value of Indonesian cocoa exports to increased from $10.9 million in 2004 to $16 million in 2005, reports Indonesia’s Trade and Investment News.