Jakarta (ANTARA) - Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto and Chinese Ambassador to Indonesia Lu Kang, on Tuesday (May 14), held a meeting to explore viable ways to step up bilateral cooperation in trade and investment.

At the meeting in the Economic Affairs Coordinating Ministry's Office, Jakarta, the two figures touched upon several matters, including potential collaboration between Indonesian Gadjah Mada University and Chinese CNGR company to build a research and development center.

"This company has placed capital in the processing and production of nickel in Morowali District, Southeast Sulawesi Province," Hartarto noted in his office's statement received in Jakarta on Wednesday.

CNGR is a Chinese company that finds its headquarters in Guangxi and possesses the latest and advanced technology in the nickel processing industry.

China has been among Indonesia's traditional trading partners, with the total value of bilateral trade reaching US$127.8 billion last year.

Related news: China important trading partner, investor for Indonesia: minister

The Indonesian minister stated that in 2023, the trade balances of Indonesia and China had shown relative harmony, with the former recording a surplus against the latter.

He also underlined that last year, China stood as the second-largest investor in Indonesia after Singapore, with an investment value reaching US$7.4 billion in total.

"(However), the figure is a decline by 9.7 percent as compared to the US$8.2 billion recorded in 2022," he pointed out.

Ambassador Lu, for his part, extended his deepest gratitude to the support of the Economic Affairs Coordinating Ministry that has facilitated Indonesia and China to bolster their multi-sector bilateral cooperation.

The ambassador also bid farewell to the minister, as he is about to conclude his diplomatic duties in Indonesia.

Related news: Indonesia, China to increase trade, investment cooperation: minister

Translator: Bayu S, Tegar Nurfitra
Editor: Yuni Arisandy Sinaga
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