Panaji: Though bilateral trade between Indonesia and India touched $14.45 billion, the trade figures are far from the true potential that trade opportunities offer for the two Asian countries. Consul general for the Republic of Indonesia Saut Siringoringo, while speaking to TOI, said that bilateral relations especially trade had suffered due to neglect on the part of both the countries.
"We find that India is a big market with very good potential. Last year we touched trade of $14.45 billion. This is very small. India and Indonesia are two of the three biggest countries in population in the region and are two members of G20 and these two countries are major economies in Asia. We have so much potential," Siringoringo said.
Siringoringo, along with the consul for economics Hariyanta Soetarto and director of Indonesian Trade Promotion Centre Walfred Tagor Manihuruk are in Goa to explore trade and investment opportunities. "For the time being we see that the most possible sectors to develop is pharmaceutical, Information Technology, education, manufacturing, biotechnology and fertilizers. "Implementation of ASEAN-India Free trade agreement has contributed a lot to increase trade relations," Soetarto said.
With Indonesia keen to spur investment and trade, a move has been made to revive the Biennial Trade Ministers' Forum. "At the end of May our minister of trade will meet your minister of trade. This forum between the ministers of trade that has been delayed by more than three to four years and there are a lot of things to discuss. The minister of trade will bring business leaders and there will be B2B meetings and government level meetings too," Siringoringo said.
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During this meeting, the two sides hope to ink the comprehensive economic cooperation agreement, a free trade agreement and other economic cooperation deals to boost growth between the two nations.
One of the key hurdles for better trade and tourism relations is the lack of direct flights between the two nations. The two nations have opened discussions to try and resolve the issue and deliberations indicate that direct flights from Mumbai and Delhi to Jakarta could be launched by mid-2016. The Indonesian minister of transport, who is also the official interlocutor between the two nations, has taken the issue on priority.
"I see the sincerity and serious discussions on this. We will help, facilitate such a direct flight from India," Soringoringo said.
Indonesian national carrier Garuda Indonesia has also expressed an interest to begin flights on Indian routes.
http://timesofindia.indiatimes.com/city/goa/Indonesia-keen-to-explore-pharma-IT-trade-ties-with-India/articleshow/52034534.cms
"We find that India is a big market with very good potential. Last year we touched trade of $14.45 billion. This is very small. India and Indonesia are two of the three biggest countries in population in the region and are two members of G20 and these two countries are major economies in Asia. We have so much potential," Siringoringo said.
Siringoringo, along with the consul for economics Hariyanta Soetarto and director of Indonesian Trade Promotion Centre Walfred Tagor Manihuruk are in Goa to explore trade and investment opportunities. "For the time being we see that the most possible sectors to develop is pharmaceutical, Information Technology, education, manufacturing, biotechnology and fertilizers. "Implementation of ASEAN-India Free trade agreement has contributed a lot to increase trade relations," Soetarto said.
With Indonesia keen to spur investment and trade, a move has been made to revive the Biennial Trade Ministers' Forum. "At the end of May our minister of trade will meet your minister of trade. This forum between the ministers of trade that has been delayed by more than three to four years and there are a lot of things to discuss. The minister of trade will bring business leaders and there will be B2B meetings and government level meetings too," Siringoringo said.
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During this meeting, the two sides hope to ink the comprehensive economic cooperation agreement, a free trade agreement and other economic cooperation deals to boost growth between the two nations.
One of the key hurdles for better trade and tourism relations is the lack of direct flights between the two nations. The two nations have opened discussions to try and resolve the issue and deliberations indicate that direct flights from Mumbai and Delhi to Jakarta could be launched by mid-2016. The Indonesian minister of transport, who is also the official interlocutor between the two nations, has taken the issue on priority.
"I see the sincerity and serious discussions on this. We will help, facilitate such a direct flight from India," Soringoringo said.
Indonesian national carrier Garuda Indonesia has also expressed an interest to begin flights on Indian routes.
http://timesofindia.indiatimes.com/city/goa/Indonesia-keen-to-explore-pharma-IT-trade-ties-with-India/articleshow/52034534.cms
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