Indonesian Pres seeks strategic partnership with India

Posted AtWebIndia123.com

ndonesian president Dr Susilo Bambang Yudhoyono today sought to establish a comprehensive strategic partnership between India and Indonesia to triple the existing bilateral trade from 5 billion dollars in the next five years.

Addressing the members of ASSOCHAM, CII and FICCI, Dr Yudhoyono said that during his meeting with Prime Minister Manmohan Singh on Monday night, Indonesia stressed the need of strategic partnership between the two largest democracies in the South-East Asian region, and establishment of closer trade ties in areas of trade, industry, technology and culture.

He called upon the Indian industry to invest in Indonesia and use it as a gateway towards establishing Indian industries close trade linkages with ASEAN countries.

He also offered his support to India during next month's Hong Kong Ministerial meet on various multilateral issues including there related to subsidies.

The President added that his administration was committed to eliminating terrorism and corruption to ensure that the country emerges as a safer place for overseas investments.

Dr Yudhoyono said Indonesia will shortly evolve a new taxation system which would be hassle-free and provide ample economic incentives to Indian industry in areas of IT, biotechnology, infrastructure and Ports.

"A detailed and comprehensive legislation would be introduced in the Indonesian Parliament next week or in 10 day's time," he announced.

The President also said his country would be hosting an Asian Conference in which the role of the Indian government would be significant. This particular conference will provide adequate opportunities to India and Indonesia for establishing good linkages with each other.

Speaking on the occasion, Commerce Minister Kamal Nath said Indonesia and India have complementarities in many areas for joint collaborations which includes pharmaceuticals, IT, engineering goods and would have huge potential to multiply their two-way trade.

He said in 2005, Indian trade with Indonesia witnessed a 35 per cent increase and though the balance of trade was in favour of Indonesia, India would be happy to increase its imports in areas of palm oil and others.

In his view, the two largest democracies have common feature and the areas in which closer linkages can be established could be trade, IT, science, technology, ecology and biotechnology.

November 23, 2005