TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
RI, Singapore agree to increase trade and investment
Foreign Minister Retno LP Marsudi recently met with Singapore Foreign Minister K
Change Size
F
oreign Minister Retno LP Marsudi recently met with Singapore Foreign Minister K. Shanmugam in Singapore in order to enhance bilateral relations between the two countries, including over Singapore's aim to invest in the maritime sector in Indonesia.
'Both ministers agree to increase the volume of trade and investment. Singapore also agrees to increase its investment in our maritime sector,' Foreign Ministry spokesman Michael Tene said in a statement made available to The Jakarta Post on Thursday, adding that they met on Wednesday.
Michael also said that more than 25 businesspeople from Singapore visited Indonesia this week to look at potential markets in the country, as well as to sign a memorandum of understanding (MoU) between Cyclect Energy Pte Ltd. and PT Berkat Manunggal Jaya Indonesia on 'Global collaboration for packaged power-generating sets and heat-recovery solutions'.
The MoU was signed in Semarang on Thursday, he said.
'Within two weeks, the Singaporean Foreign Minister will also visit our country. If the bilateral discussion on youth and sports can be finalized soon, an MoU in this sector can be signed during his [Shanmugam's] visit to Indonesia,' he said.
As one of the nation's closest neighbors, Singapore is Indonesia's partner in a number of sectors.
Bilateral trade between Jakarta and Singapore was worth US$42.26 billion throughout 2013 fiscal year, making Singapore the third-largest investor in the archipelago.
The two nations have enjoyed strong relations since 1966.(+++)
