TEMPO.CO, Jakarta - Spain has assured to improve its investments in Indonesia following a meeting between Spanish Ambassador to Indonesia Francisco Jose Viqueira and Industry Minister Saleh Husin in Jakarta.

"They talked about economic development and the value of trade between the two countries, which is still very small. Well, now we can improve it," said the Ministry of Industry's director general for international trade cooperation Agus Tjahajana, as qupted by Antara News.

During the meeting, the Industry Minister gave a lowdown on industrial estates in Indonesia, especially in Seimangke Industrial Area in North Sumatra, Agus revealed.

Spain has expressed interest in Multi Recognition Agreements (MRA) to increase the value of trade between the two countries, he added.

"They wanted to study the Indonesian standardization system and implement it to see how they can bring their products here. It is called MRA. But we need agreements and proper legal frameworks between the two countries," Agus noted.

Talking about Indonesias trade balance, Agus observed that Spain is currently in a surplus position. Of the total value of US$2 billion, Indonesias trade surplus is of US$1.2 billion.

According to Agus, Indonesia and Spain never had a cordial trade relation in the field of aircraft, although PT Dirgantara Indonesia was still running.

"The two countries can now establish trade relations in other areas," Agus added.

ANTARA NEWS | INE