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Indonesia, Singapore to boost investment and trade cooperation
Indonesia and Singapore are striving to expand investment and trade in a bid to tap potential bilateral economic cooperation, according to Indonesian Foreign Minister Retno Marsudi
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ndonesia and Singapore are striving to expand investment and trade in a bid to tap potential bilateral economic cooperation, according to Indonesian Foreign Minister Retno Marsudi.
Retno made the remarks after meeting her Singaporean counterpart K. Shanmugam in Singapore on Wednesday.
"The main focus of the meeting was trade and investment. However, the amounts to be increased were not mentioned, but Singaporean Foreign Affairs Minister Shanmugam said only a quarter of our bilateral economic cooperation potential has, so far, been tapped. So, 75 percent needs to be explored," Retno said as quoted by Antara news agency.
Currently, Singapore is the second-largest trade partner of Indonesia, with trade valued at US$42.3 billion in 2013 and $42.99 billion during the period January-July 2014.
Retno hoped that Singapore would import agricultural products, especially fruit and vegetables, from Indonesia. "We want to promote our agriculture products, especially fruit and vegetables, so that Singapore will not import from distant countries, which it has done until now," she said. (hhr)(+++)
