"The value of trade relations between the two countries increased from 11 billion dollars in 2007 to 30 billion dollars in 2011. I am convinced the target of our two-way trade at 50 billion in 2015 and 100 billion in 2010 would be achieved," the president said when he conferred the `Adipura Star` decoration to South Korean President Lee Myung-bak in Bali on Thursday evening.
He said that the target to achieve the 100 billion two-way trade in 2020 was based on a number of cooperation agreements which had been reached and which were still in the process.
Yudhoyono said that under the leadership of President Lee, the two nations have 25 cooperation agreements in various fields such as economic, educational, research, technology and defense industrial fields.
In the meantime, President Lee said that one of the important cooperation agreement with Indonesia was in the field of defense. He was convinced that the product that would be achieved by the two countries through the cooperation would constitute a world-class product.
"I am confident that the product that we would produce in the future would be a world class product," the South Korean president said.
Before the conferment of the "Adipura Star" decoration title, the two leaders had a bilateral meeting and witnessed the signing of an agreement in the development of eco-green vehicles.
The cooperation agreement was signed by Indonesian Chief Economic Minister Hatta Rajasa and South Korean Science and Economic Minister Huk Suk-ung.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2012
