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Indonesia, RoK strengthen economic links

The economic cooperation between Indonesia and the Republic of Korea (RoK) continues to be intensified, such as through the ratification of the countries’ comprehensive economic partnership agreement (IKCEPA), an Indonesian official has said.
Indonesia, RoK strengthen economic links ảnh 1Coordinating Minister for Economic Affairs Airlangga Hartarto (centere). (Photo: ANTARA/VNA)
Jakarta (VNA) - The economic cooperation between Indonesia and theRepublic of Korea (RoK) continues to be intensified, such as through the ratificationof the countries’ comprehensive economic partnership agreement (IKCEPA), anIndonesian official has said.

The IKCEPA could be enforcedin January 2023, Coordinating Minister for Economic Affairs Airlangga Hartarto saidin an official statement on October 5 congratulating the people andGovernment of the Republic of Korea on their country’s National Foundation Day (October 3).

He noted that in addition to the IKCEPA, Indonesiaand the RoK have ratified the Regional Comprehensive Economic Partnership (RCEP)Agreement that will strengthen bilateral relations, especially in economy,trade, and investment.

The official expressed his belief that relations and cooperation between the two countriescan become stronger in line with the aspirations and wishes of their people.

RoK Ambassador to Indonesia Park Tae-sung said that the friendship and partnershipbetween the countries have grown stronger.

Bilateral ties were elevated to a special strategicpartnership, specifically in the electric vehicle and battery sector, which isa showcase for mutually beneficial cooperation, he noted, adding that the closerelations are also marked by the Joint Committee on Economic Cooperation Forumroutinely held at the ministerial or senior official level.

Statistics show that bilateral trade reached 18.4billion USD in 2021, up 37.8% year on year. The RoK also ranked seventhamong foreign investors in Indonesia, with total foreign direct investment ofaround 1.6 billion USD last year./.
VNA
#bilateral trade#Indonesia#Republic of Korea#investment#partnership#Vietnam Plus#Vietnam News Agency
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