Economic cooperation priority for ASEAN-India ties: Minister

Economic cooperation priority for ASEAN-India ties: Minister

Foreign Minister Retno LP Marsudi (right) shook hands with Indian Foreign Minister Sushma Swaraj (left) before the Joint Commission Meeting between Indonesia and India in Jakarta on Friday (5/1/2018). (ANTARA /Akbar Nugroho Gumay) ()

Jakarta (ANTARA News) - Indonesia`s Foreign Affairs Minister Retno LP Marsudi stated that economic cooperation should be prioritized in ASEAN and India relationship.

"We have to take the opportunity from global economic recovery," Marsudi said here on Saturday.

ASEAN and India have the potential to generate the world`s economy, with its huge market of more than 2 billion population and total Gross Domestic Product of US$25 billion.

"Our trade and investment have moved toward an increase, although it is yet to reach its actual potential. For instance, total trade in 2016 had reached $58.4 billion," she stated.

Foreign direct investment from India to ASEAN has been recorded at $1.05 billion.

"We have to double our efforts to increase two-way cooperation in trade and investment," she noted.

ASEAN and India should also work harder to speed up the comprehensive regional economic partnership, she added.

"Economic integration could benefit all of us," the minister remarked.

In addition, she revealed that business-to-business relations must be strengthened, as India has been a strategic partner for Indonesia.

Indonesia has a strong commitment to improve its contribution to the region.

Reported by Martha Herlinawati Simanjuntak
(S022/INE)
EDITED BY INE/a014

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