Press Information Bureau
Government of India
Ministry of Commerce & Industry

04-October-2011 16:51 IST

Joint Statement by The Minister of Trade of The Republic of Indonesia
and The Minister of Commerce and Industry of The Republic of India Jakarta, 4 October 2011

1.      The Minister of Commerce and Industry of the Republic of India, H.E. Shri Anand Sharma, accompanied by an official and business delegation, visited Indonesia on 3-4 October 2011 and met the Minister of Trade of the Republic of Indonesia, H.E. Mari Elka Pangestu. They discussed ways of expanding bilateral trade and economic cooperation between the two countries at the 1^st Indonesia – India Biennial Trade Ministers’ Forum.

2.      The Ministers noted with satisfaction the Pre-Negotiation Consultations of Indonesia India Comprehensive Economic Cooperation Agreement (II-CECA), held in Jakarta, 3 October 2011. The Ministers emphasized the need to constructively engage in II-CECA negotiations which would result in mutual and beneficial outcomes for both countries.

3.      The Ministers expressed their satisfaction on the strengthening of bilateral cooperation and hoped for increasing and diversifying bilateral trade as well as promoting and stimulating bilateral investment flows. The Ministers hoped that these efforts would help achieve the bilateral trade volume target of US$ 25 billion by 2015.

4.      The Ministers reviewed the deliberations of the two Working Groups: (1) Working Group on Trade and Investment Forum and (2) Working Group on Trade Facilitation and Resolution.

5.      The Ministers looked forward to the early operationalization of the Indonesia-India CEOs’ Forum.

6.      The Ministers welcomed the signing of Memorandum of Understanding between the Governor of East Kalimantan Province and National Aluminum Company of India on Technical Cooperation on Aluminum Smelter Industry and Coal Based Thermal Power Plant.

Done and signed in two original in Jakarta on October 4, 2011 in English language, both texts being equally authentic.

 

 

 

 

DS/GK

Comprehensive economic cooperation negotiations pursued to expand bilateral trade, diversify commerce, and promote investment through sectoral cooperation. Ministers met to advance bilateral trade and economic cooperation through constructive II CECA negotiations, aiming to expand and diversify trade and stimulate investment. They reviewed two working groups on Trade and Investment Forum and Trade Facilitation and Resolution, supported early operationalization of an Indonesia India CEO Forum, and welcomed a Memorandum of Understanding on technical cooperation for aluminium smelter and coal based thermal power projects between East Kalimantan Province and an Indian aluminium company.