29 Apr '11, 3pm

China and Indonesia expand economic and trade cooperation

China and Indonesia expand economic and trade cooperation

JAKARTA: China and Indonesia have agreed to expand economic and trade cooperation, with China agreeing to extend US$8 billion worth of commercial loans for infrastructure projects in Indonesia. This was decided on the first day of Chinese Premier Wen Jiabao's state visit to the Southeast Asian country. Mr Wen was supposed to be in Indonesia one year ago, but the visit was postponed because of an earthquake that struck north-west China. A lot has happened in the interim, such as the ASEAN-China Free Trade Agreement that came into force in January 2010 - boosting trade between Indonesia and China. However, so far Indonesia has benefited less - it posted a trade deficit of US$4.7 billon with China last year. Trade and investment were on the agenda during talks between the Indonesian and Chinese leaders. "China and Indonesia are at key point of their development and have huge ...

Full article: http://www.channelnewsasia.com/stories/southeastasia/view...

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