Trade with India and Indonesia to cross USD 25 billion by 2015

Ahmedabad, Jul 22 (PTI) Bilateral trade between Indonesia and India has reached USD 13 billion mark in June this year making the country the third largest trading partner of India in ASEAN region, Ambassador of Indonesia Lt. Gen (Retd) Andi M Ghalib said.
"The two nations have set a new target of reaching bilateral trade of USD 25 billion by 2015, as the investment cooperation between the two nations is increasing by the year," Ghalib told reporters last night.
India''s investment in Indonesia has already increased from USD 11.6 million in 2007 to USD 44 million in 2010, he said.
"The commitment to strengthen the bilateral ties was re-iterated during the visit of President of Indonesia Susilo Bambang Yudhoyono, to India in January this year," he added.
On a two day visit to Gujarat, Ghalib has invited representatives of the state government and private sector to the CEO Summit to be held in Bali in December this year.
"More than 10 Gujarat based companies in sectors like pharmaceuticals, ceramics and packaging, including Cadilla and Dye Star, have evinced interest to launch business ventures in Indonesia," he said after a discussion with business leaders in the state.
Indonesia, a coal rich nation, has assured that escalating prices of the commodity shall be adjusted, a move that is likely to help the coal based power projects in India to meet deadlines.
"More demand for coal globally has led to spike in its prices. Nations are trying to adjust to price hike. Indonesia being amongst the largest producer of coal also has to adjust pricing looking at the world demand. We are open to India and let us talk it out," Ghalib said. (More) PTI VKB PD VKV