RI, KAZAKHSTAN STEP UP ECONOMIC TIES

By Andi Abdussalam

Jakarta, Sept 2 (Antara) - Indonesian President Susilo Bambang Yudhoyono began a two-day working visit in Kazakhstan on Monday, in an effort to foster closer economic cooperation of both the nations.          Indonesia and Kazakhstan have been cooperating with each other ever since they established diplomatic relations in 1993. Their two-way trade volumes have increased from US$35 million in 2008 to US$64 million last year.          The current visit of the Indonesian President is also expected to boost bilateral trade and increase its volumes to US$100 million in 2017.          Intensive efforts to foster economic cooperation between the two countries have been made since the visit of Kazakhstan's President Nursultan Nazarbayev to Indonesia last year.          Last year, in the fifth Astana Economic Forum, both countries signed seven memorandums of understanding (MoUs).          "As already known, the state visit of Kazakhstan president Nursultan Nazarbayev resulted in an agreement to increase the trade value between the two countries to US$100 million by 2017," said Chief Economic Minister Hatta Rajasa.          Hatta noted that the volume of trade between the two countries has doubled from US$35 million in 2008 to US$64 million last year.