INDONESIA PROMOTING TRADE, INVESTMENT IN SOUTH KOREA

By Andi Abdussalam

Jakarta, Dec 12 (Antara) - Indonesia is actively promoting trade and investment in South Korea since both these sectors have shown a downward trend over the past few years.          The value of Indonesia-South Korea trade in 2014 for example was recorded at US$22.47 billion, down from some US$30 billion in 2012. Likewise, South Korean investment in 2012 was recorded at US$1.9 billion but up to the first half of 2015, it accounted for US$790 million only.          Trade Minister Thomas Lembong is committed to increasing the trade and investment values of both nations.          Therefore, he visited South Korea this week to continue negotiations on the Indonesia-Korea Comprehensive Economic Partnership Agreement (IKCEPA) in an effort to increase market access and attract more investment from South Korea.          "We will expand market access through the continuation of the IKCEPA negotiations and the promotions of Indonesian products in the South Korean market," Thomas Lembong said in a written statement received by Antara in Jakarta Wednesday.

RI, SOUTH KOREA AGREE TO INCREASE TRADE AND INVESTMENT

By Andi Abdussalam     Jakarta, Oct 14 (Antara) - South Korean President Park Geun-hye's visit to Indonesia last week ended with both countries agreeing to strengthen economic cooperation and increase bilateral trade to US$100 billion by 2020.          "Our (two-way) trade last year stood at US$30 billion. We have set a bilateral trade target of US$50 billion for 2015 and US$100 billion for 2020," President Susilo Bambang Yudhoyono told the press at a meeting in the State Palace in Jakarta over the weekend.          In the past five years, the volume of trade between the two countries has risen by more than 20 percent. In the first half of this year, Indonesia's exports to Korea touched US$5.8 million.          Last week, Indonesia and South Korea deliberated on increasing economic cooperation between the two countries, lifting trade, and stepping up investments. The two countries signed at least seven investment agreements in the energy sector. They also inked a number of MoUs (Memoranda of Understanding) in fields such as creative economy.