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JAKARTA - China and Indonesia agreed in Bali yesterday to intensify bilateral economic, trade and technical cooperation, especially in investment field. The agreement was reached at the 8th meeting of the Joint Commission on Economic, Trade and Technical Cooperation.
The commerce ministers of China and Indonesia expressed their confidence that the two countries could reach the target of 30 billion U.S. dollars of bilateral trade by 2010 if both sides made great efforts to boost the cooperation in various fields, especially in two-way investment.
Visiting Chinese Minister of Commerce Bo Xilai and his Indonesian counterpart Mari Pangestu presided over the meeting to discuss China-Indonesian economic ties. More than 100 business people and entrepreneurs from the two countries attended the one- day meeting.
The two ministers held that the two economies are highly complimentary with Indonesia having advantages in raw material, agriculture and services, while China in manufacturing, human resources and market. The win-win cooperation could benefit both sides, they added.
Bo said China-Indonesia two-way trade volume surged to 16.8 billion U.S. dollars in 2005 with an average growth of 20 percent to 30 percent in recent years. Now, it is the best stage of bilateral relations between China and Indonesia, especially in economic and trade sectors, he added.
The two ministers also signed several economic and trade cooperation agreements, including Memorandum of Understanding (MoU) concerning Projects Assistant to Prevent and Cure Bird Flu; MoU concerning the Arrangement of Specific Comprehensive Economic Cooperation; MoU on the Establishment of a Joint Investment Promotion committee; MoU on the China-Indonesia Economic and Trade Cooperation Website; Exchange of Letter for Training Course and Management of Economic and Trade Cooperation.
After the signing ceremony, the two ministers also attended the launching ceremony of the China-Indonesia Economic and Trade Cooperation Website. Paralleling with the Joint Commission meeting, a joint business seminar and investment forum was held Friday morning. And the first meeting of the Joint Investment Promotion Committee was held Friday afternoon. Bo and Mari Pangestu also held separate talks with business leaders from the two countries during the meetings.
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