India and Indonesia en route to meet US$25 billion trades in 2012

Fri, 01/20/2012 - 19:15

The Indian ambassador for Indonesia, Biren Nanda, said on Thursday that both countries will raise bilateral trade values to reach the US$25 billion target in 2012, agreed in October 2011 during the signing of the pre-cooperation between both countries within the framework of the India Comprehensive Economic Cooperation Agreement.

"Trades between both countries have gone up significantly every year. Indonesian export value to India has gone up to US$11.2 billion until October 2011, from US$1.3 billion in 2002," said Nanda amidst the signing of tourism cooperation deal between ASEAN countries and India in Manado.

Imports from India has also g one up, reaching US$3.6 billion until October 2011 from US$637.7 million in 2002. This accounted for US$5 billion surplus of trade for Indonesia, thanks to its exports of CPO and its derivatives in which India is one of the big three markets. (eaz)

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