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Malaysia, Indonesia aim to double trade value
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President Joko “Jokowi Widodo and Malaysian Prime Minister Najib Razak hold a joint press conference after meeting at the State Palace in Jakarta on Monday. (Antara/Puspa Perwitasari)
M
alaysian Prime Minister Najib Bin Haji Tun Abdul Razak has said he wants to double trade with Indonesia to US$30 billion in the coming years.
Last year, trade between the two countries was valued at $16.6 billion. As of April this year, trade value reached $4.58 billion.
"Malaysia is Indonesia's second best investor and we want to boost trade to reach $30 billion in the following years," Najib said during a visit to the State Palace on Monday.
To meet the target, the two countries agreed to revitalize the Joint Trade and Investment Committee (JTIC) agreement, enhance business-to-business communication and expand market access.
The second JTIC was held in Jakarta on June 29-30 with several agreements signed, including on a review of the border trade agreement.
Malaysia is among the five top countries injecting foreign direct investment (FDI) into Indonesia after Singapore, Japan, the Netherlands and the United Kingdom, with a value of $1.78 billion in 448 projects.
Najib said the country wanted to increase investment in Indonesia, including in road and property projects. (dmr)
