Keeping that in view, we have agreed to increase trade volume and cooperation in 13 economic sectors."
Jakarta (ANTARA News) - Indonesia and Kazhakstan have decided to step up cooperation in 13 economic sectors.

"Kazhakstan is a trading partner as well as a friend of Indonesia. The joint commission meeting today was quite productive, resulting in agreements in 13 economic sectors, categorized under five working groups," Indonesia`s Coordinating Minister for Economic Affairs Hatta Radjasa said after attending the first meeting of the Indonesia-Kazakhstan Joint Commission on Economic Cooperation (JCEC) here on Wednesday.

The 13 economic sectors are trade and investment (under the first working group); industry, agriculture, and infrastructure (second working group); oil, gas, and energy (third group), transportation and logistics (fourth group); and banking, shariah finance, and pharmaceutical (fifth group).

Hatta said the first JCEC was held after a meeting between the two countries` leaders, who later asked their economic ministers to boost bilateral cooperation.

"As already known, the state visit of Kazakhstan president Nursultan Nazarbayev resulted in an agreement to increase the trade value between the two countries to US$100 million by 2017," he continued.

Hatta noted that the volume of trade between the two countries had doubled from US$35 million in 2008 to US$64 million last year.

However, he said, the figure could be much higher if the two countries increased their cooperation in various fields.

"Keeping that in view, we have agreed to increase trade volume and cooperation in 13 economic sectors," Hatta explained.

He revealed that the two sides signed a memorandum of understanding at the JCEC meeting for the establishment of Indonesia-Kazakhstan Joint Economic Cooperation.

"We have also agreed that some joint projects will be implemented even before President Susilo Bambang Yudhoyono visits Kazakhstan," Hatta said.

"We are optimistic that economic ties between the two countries can be strengthened through cooperation efforts under the five working groups," he added.

(Reporting by Yuni Arisandy/H-YH/INE/KR-BSR/B003)

Editor: Priyambodo RH
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