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Jakarta Post

Indonesia, Singapore agree to boost economic cooperation

  • Ina Parlina

    The Jakarta Post

Semarang, Central Java   /   Mon, November 14, 2016   /  02:55 pm
Indonesia, Singapore agree to boost economic cooperation Closer ties – President Joko “Jokowi” Widodo (second from left), accompanied by First Lady Iriana Joko Widodo (left), shakes hands with his Singaporean counterpart Prime Minister Lee Hsien Loong (second from right), accompanied by his wife Ho Ching, prior to their bilateral meeting in Semarang, Central Java, on Nov. 14. (Courtesy of the Presidential Office/Laily Rachev)

President Joko “Jokowi” Widodo and his Singaporean counterpart Prime Minister Lee Hsien Loong agreed to boost economic cooperation between the two countries during their first Leaders' Retreat in Semarang, Central Java, on Monday.

In the meeting, Jokowi praised Singapore as "one of Indonesia’s key partners in trade and investment", while Lee said bilateral relations between the two nations were “in good shape".

After the meeting, Jokowi and Lee are set to inaugurate the Kendal Industrial Park on the outskirts of Semarang. It is expected that the industrial park will create about 4,000 jobs in Semarang and Kendal.

"So it's a win-win outcome for Singapore and Indonesia," Lee told a press conference after the bilateral meeting.

Singapore's investment in Indonesia amounted to US$7.1 billion between January and September this year, increasing by 44 percent from the same period last year.

Jokowi also told Lee that the Indonesian government would continue to carry out economic and legal reforms in a bid to create a more competitive economy.

The two leaders also signed a Memorandum of Understanding on cooperation in tourism, which could open up new possibilities to develop new tourist destinations in Indonesia.

The meeting was initially scheduled for August but was postponed after Lee suffered from a sudden drop in blood pressure. (ebf)

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