Indonesia-China to Increase Trade Capitalization

TEMPO.CO, Jakarta - Indonesia and China has agreed to increase trade capitalization volume between both countries to around US$150 billion by 2020.

"We aim to increase the value of bilateral trade to around US$150 billion, which we want to reach by 2020," said President Joko 'Jokowi' Widodo at a press briefing at Halim Perdanakusuma Airport in Jakarta on Sunday evening.

The increased economic cooperation will be attempted through increasing foreign direct investments (FDI) flow between both countries, joint-ventures in infrastructure developments, as well as in the development and manufacturing of new products - all of which were stressed by President Jokowi's during his visits to Japan and China throughout last week.

According to the President, investments for the development of new electric transmission lines, fast-rail links, and the construction of new power plants, is slated to begin flowing into the country later on in 2015.

"I also stressed that we want to be able to take concrete steps - not mere Memorandum of Understandings (MoUs)," said President Jokowi, who added that the deals are still currently being crafted, along with several joint measures to help stabilize the currencies of the region.

With regards to the planned visa exemption for Chinese tourists wishing to travel to Indonesia, President Jokowi said that the steps towards that direction are taken to increase the flow of Chinese tourists into Indonesia by up to 10 million visitors annually.

President Jokowi also said that during the discussion with his Chinese counterparts, there were talks about opening seven new direct air routes from Chinese cities into Indonesia, and that he requested that Garuda Indonesia - as well as other Indonesian airlines - to be allowed to open new routes from Indonesian cities into China.

"These are among the concrete areas that were discussed, and we hope to realize these plans as soon as possible," said Jokowi, who added that there will be teams which would be deployed to ensure the continuity of the discussions - both from China and from Japan.

It is known that President Jokowi, along with First Lady Iriana Widodo, arrived at Halim Perdanakusuma Airport at 18.45 Jakarta time, after having attended the memorial service for Singaporean leader, Lee Kuan Yew.

ANTARANEWS