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 Vice President Jusuf Kalla and Cambodian Prime Minister Hun Sen held bilateral talks at the Lotus Blanc Resort, Siem Reap, Cambodia, on Wednesday morning, to discuss the development of cooperation between both nations.
Economic diplomacy has become one of the priorities of the Indonesian foreign policy by boosting the country′s economic and trade cooperation with African, Central, and South American countries, Foreign Minister Retno L. P. Marsudi stated.
Indonesia and the European Union (EU) have developed relations across a wide spectrum of areas in the space of a few years as outlined in the EU-Indonesia Partnership and Cooperation Agreement (PCA). By Yuni Arisandy
Foreign Affairs Minister Retno L. P. Marsudi has called for reduction of plastic waste by using refillable bottles and reusable straws and bags.
The Center for Indonesian Policy Studies (CIPS) has stated that Indonesian banks are now stronger in facing global pressure compared to the conditions in 1998.
Finance Minister Sri Mulyani Indrawati has forecast that the Indonesian economic growth in 2018 may reach 5.15 percent, falling short of the target of 5.4 percent set in the state budget.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669
E-mail: embassy@indonesianembassy.hu