"Representatives from some South Korean companies recently reveal interest in investing in power plant construction and infrastructure in Indonesia. Feasibility study is underway," the ambassador said here on Friday, adding that infrastructure is very important to support Indonesia`s industrialization process and development of the nation.
He noted bilateral trade and investment between South Korea and Indonesia have been expanding due to mutually beneficial and complementary economic structures. Indonesia owns huge amount of natural resources needed by South Korea, while South Korea is very competitive in the area of technology and financing.
In 2012, Indonesia exported natural gas, coal, oil and other energy resources worth USD15.7 billion to South Korea, while it imported petrochemical goods, knitted textiles, synthetic resins, hot rolled and steel sheets worth USD13.9 billion from the latter.
The ambassador expressed hope the Comprehensive Economic Partnership Agreement (CEPA) between South Korea and Indonesia will soon be implemented. Up till now negotiations are still ongoing.
"CEPA will not only facilitate bilateral trade and investment but also ensure better market access and favorable regulatory environment," he added.
Meanwhile, Indonesia`s Coordinating Minister for Economic Affairs Hatta Radjasa said at the Jeju Initiative meeting held in South Korea last year that South Korean investors have agreed to develop eight infrastructure projects worth US$50 billion in Indonesia.
"The agreement is expected to boost economic cooperation between Indonesia and South Korea. The implementation of the projects will be supervised by the two countries` representatives working with the Joint Secretariat established in early 2012," Hatta said.
Among the eight projects agreed upon during the meeting are the construction of Batam island (Riau Islands province)-Bintan bridge; the restoration of Ciliwung river (Jakarta province); the construction of railway tracks for coal transportation from Bengkulu province to Muara Enim (South Sumatra)."
Also the construction of Sunda Strait bridge connecting Sumatra and Java islands; the development of compressed natural gas (CNG); the construction of a coal power plant in South Sumatra; the opening of a new branch of Daewoo Shipbuilding and Marine Engineering (DSME); and the development of an agriculture-based multi-industry area, he added. ***3***
(S012)
(T.A051/A/A051/S012) 12-04-2013 21:27:27
Reporter: Amie Fenia Arimbi
Editor: Fardah Assegaf
Copyright © ANTARA 2013
