Indonesia to double trade with China
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Indonesia expects to double its trade volume with China to US$50 billion by 2014, Indonesian Trade Minister Mari Elka Pangestu said yesterday in Shanghai.
She is taking part in the opening ceremony of the Indonesian Pavilion at the World Expo 2010 today, and promoting bilateral trade and investment during the event.
"The World Expo in Shanghai is one of the biggest Expos ever. It will give Indonesia an opportunity to tell the world about our economic, political as well as cultural progress," Pangestu said. "China is a strategic trading partner of Indonesia, and we hope to strengthen this relationship through this event."
It is the second time Indonesia has built a pavilion at a World Expo site, and so far its best participation in the World Expo, Pangestu said.
As for the growing trend of trade protectionism, Pangestu said Indonesia was a strong supporter of free trade.
"We can see a lot of trade disputes these days, but the good news is that countries are seeking solutions within the framework of the World Trade Organization," she said.
Indonesia, with a population of 240 million people and a growing middle class, is a resource rich country. It is the world's largest producer of palm oil, the world's largest exporter of thermal coal and home to many other sought-after minerals such as gold, copper and bauxite.
The country is also beefing up efforts to improve its infrastructure and financial services to become more attractive for foreign investment.
China's trade with Indonesia climbed 78.1 percent from a year earlier to US$8.85 billion in the first quarter, with imports from Indonesia rising 103.5 percent, and exports up 55.7 percent.
