Industry & Economy
-
Foreign Trade
Indonesia to strengthen bilateral trade ties
Our Bureau
The Minister for Commerce and Industry, Mr Kamal Nath; the Minister for Trade, Indonesia, Ms Mari Elka Pangestu; and the FICCI President, Mr Onkar S. Kanwar, at the Eighth India-Indonesia Joint Business Council meeting in the Capital on Monday. — Kamal Narang
New Delhi
,
Aug. 8
INDIA and Indonesia on Monday decided to enlarge their bilateral economic engagement with the Minister of Commerce and Industry, Mr Kamal Nath, and his Indonesian counterpart, Ms Mari Elka Pangestu, agreeing to work towards further South-South co-operation to strengthen the business-to-business contact between the two countries.
The two ministers announced their intention at the Eighth India-Indonesia Joint Business Council meeting organised by the Federation of Indian Chambers of Commerce and Industry (FICCI).
The Indonesian Minister announced that as a first step towards realising the bilateral trade volume of $10 billion by 2010 from $4 billion, Indonesia had relaxed its visa policy and now provided visa-on-arrival to visiting Indian businessmen and tourists.
She said Indonesia's total trade with India was growing at a fast pace. Mr Kamal Nath underlined the need to diversify the bilateral trade basket to achieve a quantum increase in trade. "If trade is to be sustained and expanded then it cannot rely on just handful of commodities. The pharmaceutical sector, IT, two and three-wheeler and technology transfer in rail transportation offer excellent scope for both trade and investment," he said.
Mr Onkar S. Kanwar, President, FICCI, said that the trade volume between the two countries could reach the $5-billion mark in the next two years.
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
