RI offers China investment opportunities in six Economic corridors

Jakarta (ANTARA News) - Indonesia has offered China investment opportunities in the development of six economic corridors over the next 15 years.

"Indonesia will increase and expand its economy in the next 15 years through development of six economic corridors in the country and invites China to cooperate in the development of infrastructure, electricity plants, clean energy sources and manufacturing," President Susilo Bambang Yudhoyono said after meeting with visiting Chinese prime minister Wen Jiabao at the Merdeka Palace here on Friday.

"He (Prime Minister Jiabao) welcomed it and in the near future I would send a senior minister in the economic field to explain the master plan so that investment would run smoothly," President Yudhoyono said.

The two as well as their respective delegations during bilateral talks agreed Indonesia would invite Chinese companies to participate in the development of infrastructure such as roads and electricity plants based on mutual partnership and mutual benefit.

"We agreed to increase cooperation, the volume of trade to make it more balanced and to bring more benefit to both countries as well as cooperation in the marine and fisheries sectors. We have also agreed to increase cooperation in the field of defense and had also discussed increased cooperation in various fields including education, tourism, culture, youth affairs and sports," he said.

Coordinating minister for economic affairs Hatta Rajasa meanwhile after accompanying President Yudhoyono during the meeting said he would conduct a road show in China early in June 2011 like the one he did in South Korea sometime ago.

He said during the road show he would explain about national development plans including the development of six economic corridors.

At a joint press conference at the Merdeka Palace Prime Minister Wen Jiabao had also invited Indonesia to cooperate in the maritime field including research, marine potentials management and exploration of marine potentials that is mutually beneficial for both countries.

With regard to maritime cooperation Jiabao said China would provide one billion yuan. "We have asked for the establishment of a maritime cooperation commission and would provide one billion yuan as operation funds. The two parties would cooperate in security, research, monitoring and protection for the interests of the two countries and the region," Jiabao said.

He said "China and Indonesia are key to development of their huge market potentials. We must combine the superiority for mutual benefit."

China, he said, would give US$1 billion in soft loans and US$8 billion in commercial funds to support infrastructure development in Indonesia.

"We also led a delegation that would sign investment agreements worth US$10 billion," he said.

During the meeting the two countries` delegations agreed to increase cooperation in the fields of gas and oil, coal and electricity and new energy sources exploration.

The two countries would develop China-Indonesia Energy Forum to achieve the targets of cooperation in the energy sector and development of clean energy.

After the meeting President Yudhoyono and prime minister Jiabao witnessed the signing of memorandum of understanding between the two governments in the field of joint activities in diplomatic affairs, in the field of industrial and technology cooperation and in the field of Mandarin language teaching and trade cooperation. (*)