"With regard to ASEAN I believe it could become one of the advanced organizations."
Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono has said cooperation between Indonesia and Singapore must not only be focused on economy but must also cover other areas.

"I think the cooperation must be continued to cover not only economy but also other areas," he said when receiving Singapore`s foreign minister K Shanmugam here on Thursday.

He said cooperation in the field of economy between the two countries so far has been good and could be continued and could boost development in the ASEAN region.

"With regard to ASEAN I believe it could become one of the advanced organizations. The spirit of ASEAN cooperation is high while ASEAN plus cooperation and even ASEAN cooperation with APEC has been closer to become part of the solutions of global problems and at the same time has also helped develop our economy," he said.

President Yudhoyono was flanked by foreign minister Marty Natalegawa, minister/state secretary Sudi Silalahi and cabinet secretary Dipo Alam in the meeting.

Minister Shanmugam had earlier met with Marty Natalegawa in the framework of the Joint Commission for Indonesia-Singapore Bilateral Cooperation in Yogyakarta.

After the meeting in Yogyakarta on Wednesday minister Marty Natalegawa said that until now Singapore has remained the biggest investor in Indonesia.

"Singapore has remained the biggest source of investment for Indonesia," he said after welcoming minister Shanmugam in Yogyakarta on Wednesday.

According to data from the foreign ministry Singapore`s investment in Indonesia in 2011 reached US$5.1 billion while in the third quarter this year it has reached US$3.5 billion.

Marty said the value of Singapore`s investment in Indonesia kept increasing indicating that the relations between the two countries have been stronger.

"The relations between Indonesia and Singapore have been stronger as reflected by the increasing investment from Singapore in Indonesia," he said. ***1***

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