Indonesia, Korea target $30 million in bilateral trade

News Desk

The Jakarta Post


Jakarta   /  Wed, September 12, 2018  /  07:20 am

President Joko "Jokowi" Widodo shakes hands with South Korea's CJ Group chairman Sohn Kyung-shik during a meeting in Seoul on Monday.(Courtesy of the Presidential Palace/Laily rachev)

Indonesia and South Korea have set a target of increasing bilateral trade to US$30 million by 2020, President Joko “Jokowi” Widodo said in Seoul on Monday.

The target is expected to bolster bilateral ties with South Korea in honor of the 45th anniversary of diplomatic relations between the two countries.

“Amid [financial] uncertainties around the world, Indonesia and South Korea manage to maintain a strong [diplomatic] relationship. Our trade in 2017 increased by 20 percent,” Jokowi said during his third state visit to Seoul on Monday.

Jokowi said he was optimistic about achieving the goal since investors and businesspeople in South Korea responded positively to the prospect of increased bilateral trade.

Read also: Korean investors promise to hire more Indonesian workers

The Indonesian leader has engaged in talks with businesspeople in Seoul in his bid to improve South Korean investment in Indonesia.

“In the meetings, they [the businesspeople] expressed appreciation for Indonesia, which has improved the investment climate for foreign investors,” said Foreign Minister Retno LP Marsudi, who accompanied Jokowi in the meetings.

The business leaders also reiterated their commitment to help Indonesia improve its domestic industries and catch up with foreign players. (rfa)