Indonesia expects to double trade with India
July 12th, 2011 - 10:14 pm ICT by IANSKolkata, July 12 (IANS) Bilateral trade between India and Indonesia will double by 2015 to reach $25 billion, the country’s ambassador to India said Tuesday.
Addressing an interactive session at the Indian Chamber of Commerce here, Ambassador Lt. General (retd) Andi Ghalib said there was lot of scope for Indian investment in tourism in the south east Asian country, including the island of Bali, which has ancient cultural relations with India.
Bilateral trade between the nations stands at $12.7 billion, and is expected to touch $13.5 billion by this fiscal end. “We expect the trade between us to double to $25 billion by 2015,” Ghalib said.
He said barring Singapore, Indonesia was India’s largest trade partner in the ASEAN (Association of South East Asian Nations) region for a variety of items including refined petroleum products, wheat, rice, steel, palm oil, iron and steel.
With both countries having weathered the global financial crisis and entering a new era of economic relationship, “we are bound to emerge as major partners within the next decade in the global market”, he said.
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Tags: andi, asean, association of south east asian nations, bilateral trade, east asian country, east asian nations, economic relationship, ghalib, global financial crisis, indian chamber of commerce, indian investment, interactive session, iron and steel, island of bali, kolkata, lt general, major partners, palm oil, refined petroleum products, trade partner