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Sino-Indonesian entrepreneurs ink 17 bln USD agreements

(Xinhua)

10:34, March 24, 2012

BEIJING, March 23 (Xinhua) -- Chinese and Indonesian entrepreneurs signed trade agreements worth at least 17 billion U.S. dollars Friday, during the Indonesian president's visit to China.

The agreements, which include nine memoranda of understanding and several intention cooperation pacts, cover 15 projects in the fields of iron and steel making, textile manufacturing, hydroelectric generation, mining and agriculture.

Wan Jifei, president of the China Council for the Promotion of International Trade, said at the meeting that "The two economies, whose industries complement each other, can exchange experience and learn from each other. Enhancing bilateral economic and trade cooperation between China and Indonesia will promote common prosperity and progress, and bring benefits to both sides."

Indonesian President Susilo Bambang Yudhoyono said, as two large emerging economies, China and Indonesia can strengthen bilateral cooperation and expand mutual investment in sectors such as machinery manufacturing, infrastructure, energy and telecommunications.

Bilateral trade between the two countries is expected to reach 80 billion U.S. dollars by 2015, he added.

The bilateral trade volume reached 60.5 billion U.S. dollars in 2011, compared with 2.9 billion U.S. dollars in 2000, according to Wan Jifei.

China is the world's second-largest economy, and Indonesia is the biggest among the Association of Southeast Asian Nations.

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