Indonesia, Italy enhance economic cooperation

Indonesian Coordinating Minister for Economy Darmin Nasution and visiting Italian Minister of Economic Development Carlo Calenda have agreed to enhance bilateral economic cooperation during their recent meeting in Jakarta, Indonesia.

Thursday, May 18, 2017 17:19

Indonesia, Italy enhance economic cooperation ảnh 1

Indonesian Coordinating Minister for Economy Darmin Nasution (Source: skalanews.com)

Hanoi (VNA) - Indonesian CoordinatingMinister for Economy Darmin Nasution and visiting Italian Minister of EconomicDevelopment Carlo Calenda have agreed to enhance bilateral economic cooperationduring their recent meeting in Jakarta, Indonesia.

Italy is considered as one of the importantpartners of Indonesia in the European Union. However, data from the IndonesianMinistry of Trade in 2016 showed that the total value of bilateral trade hitonly 3 billion USD, down 8.6 percent compared to 3.2 billion USD in theprevious year.

In terms of trade, Indonesia mainly exportscoal, crude palm oil, footwear, rubber, coffee, recording equipment, woodenfurniture, apparel and pulp to Italy while importing washing machine, tubes andpipes, machinery and mechanical equipment, leather products, automotive spare partsand textile machine.

The Investment Coordinating Board of Indonesia(BKPM) recorded an investment sum worth 26 million USD from Italy in 2016.

In the first quarter this year, Italy becamethe 25th largest investor in Indonesia with a total registeredcapital of 11.34 million USD. The European country targets a 10 percentincrease in investment in Indonesia, focusing on aviation, infrastructure, foodprocessing, energy and pharmaceuticals.

Nearly 450 Italian firms are investing inSoutheast Asia, some of them are ready to inject more into Indonesia in thenear future.-VNA

VNA

#Darmin Nasution #Carlo Calenda #economic cooperation #partners #coal #crude palm oil #wooden furniture #washing machine

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