Jakarta, Nov 5 (Antara) - With Indian Vice President, Mohammad Hamid Ansari, visiting Indonesia to discuss the expansion of economic relations, hopes have risen that India will ramp up investment in the country.
Vice President Jusuf Kalla said this while addressing the visiting Indian dignitary and the accompanying business delegation at a business forum held in Jakarta on Tuesday, reiterating that Indonesia is the right place to invest.
"Similar to India, Indonesian businesses are now spreading across the world and the country is also a good place for India to invest," he stated at the Indonesia-India Business Forum.
He further noted that Indonesia is currently intensifying its efforts to build cooperation with developing countries in the world, and therefore, now is the right time to invest in the country.
In view of the several similarities existing between the two countries, he believed that bilateral cooperation would run smoothly.
Indonesia's eagerness to attract and increase more investment from India is also reflected in the statement issued by the Capital Investment Coordinating Board (BKPM).
The BKPM is committed to optimizing Indian investments in Indonesia. This is important, considering that Indian investment has risen by 44 percent during the January to September period this year, compared with the previous year.
In a press statement released on Tuesday, BKPM Chief Franky Sibarani said Indian investment during the January-September 2015 period had reached US$32 million, up 44 percent from US$23 million in the same period last year.
"India and Indonesia are two countries, which share a historical closeness, and are set to play strategic roles in deciding the future of the region," the BKPM head said while presenting his assessment of the Indian investment at the Indonesia-India Business Forum.
Franky also explained that Indian investment in Indonesia is mostly in the mining sector, trade, electricity, gas and water.
Meanwhile, India has competence in information technology and in various service sectors.
"It has very big potential. With its economic value amounting to U.S.$10 trillion owned by the two countries, investment cooperation between the two nations has not yet reached the optimal level," said Franky.
Therefore, he expressed the view that Indonesia needs to take steps to boost Indian investment in Indonesia.
Apart from investment, Indonesia also hopes that both countries will be able to boost trade ties. Vice President Jusuf said the Indonesian government hoped that increased bilateral cooperation between the two countries in the field of trade would be realized.
"Trade between Indonesia and India is close to US$20 billion per year, and we still have the potential to increase it," he confirmed.
Jusuf said there are several sectors that have the potential to develop further, including commodity trading and industrial cooperation.
On his part, Vice President Ansari stated that his visit was aimed at expanding and deepening cooperation with Indonesia, which India considers a strategic partner.
"We have discussed ways to diversify and increase bilateral trade and boost investment between the two countries through the private sector," he emphasized.
He also remarked that the two countries should seriously follow up on cooperation in the fields of new and renewable energy sources.
"With regards to this, Indonesia's Minister of Energy will, in the near future, visit India," he said.
Trade in the energy sector between Indonesia and India is valued at US$16.7 billion per year, Indonesian Foreign Affairs Minister Retno LP Marsudi, pointed out.
Indonesia has so far enjoyed a trade surplus with India, particularly from palm oil exports, she revealed.
"Business-to-business relations must be further stepped up in view of the fact that both countries have established close relations since the Non-Aligned Summit," she added.
She added that the two countries need to implement a strategic partnership agreement, which will eventually pave the way for stronger business-to-business relations.
Therefore, both countries have resolved to step up trade relations. Regional Representative Council (DPD) Chairman, Irman Gusman said Indonesia and India must establish cooperation in various fields to achieve their common trade target of US$45 billion in 2015.
"In 2013, the value of trade between these two countries was recorded at US$15 billion. This year, they have set an ambitious trade target of US$45 billion," Irman noted, while receiving Indian Vice President Mohammad Hamid Ansari at the Parliament Building on Tuesday.
He said the target could be achieved since the two countries have made progress in a number of fields.
Irman added that Indonesia and India have an edge in technological fields, such as nuclear powered electricity plants, outer space, information technology and science. Indonesia has potential for development in the food and agricultural technology.
"If the two countries manage to have good cooperation, then both sides will mutually benefit and enjoy an advantage," the DPD chairman said.
Besides meeting with the DPD chairman, the Indian Vice President was also received by People's Consultative Assembly (MPR) leader Zulkifli Hasan.
The MPR leader was accompanied by his deputies: Mahyudin, E.E. Mangindaan, Hidayat Nur Wahid, and Oesman Sapta Odang, and discussed with the Indian leader ways to strengthen relations between the two countries.
Zulkifli remarked that the courtesy visit by the Indian vice president, who is concurrently chairman of the Indian Senate, was aimed at establishing friendly relations and cooperation between the people of both countries.
"Such visits should constantly be made to increase friendship," Zulkifli said.
India supports the Indonesian government's programs related to trade cooperation between the two countries, such as the trade of cattle, coal, and crude palm oil (CPO), he added. ***3***(A014/INE)EDITED BY INE(H-YH)(T.A014/A/BESSR/A/Yosep) 05-11-2015 19:37: |
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