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Showing posts with label Indonesia. Show all posts
Showing posts with label Indonesia. Show all posts

Friday, October 11, 2013

India eyes stronger ties with Indonesia

India is looking for stronger ties with Indonesia in economic and other areas of cooperation, with some key agreements likely to be signed during Prime Minister Manmohan Singh's current visit to the south Asian nation.

Singh, who arrived here late Thursday night from Brunei after attending ASEAN and East Asia Summits from October 9-10, would be joined here by senior Cabinet colleagues External Affairs Minister Salman Khurshid and Commerce and Industry Minister Anand Sharma.

The delegation also includes a number of top officials including National Security Adviser Shiv Shankar Menon.

During the trip, some important agreements are likely to be signed and the Indian delegation will leave for home on Saturday.

Besides being a key ASEAN member, Indonesia is an important bilateral partner of India. The areas of cooperation between the two countries range from economy, culture, energy, security, space and development.

Ahead of his Brunei and Indonesia visit, Singh had said that India's sees its "ties with Indonesia as an essential part of India's integration with the broader region".

"I intend to utilise this visit also to re-emphasise our commitment to building a stronger partnership with ASEAN. We will also have the opportunity to exchange views on regional and global issues of common interest," he said, while committing to create an institutional framework to further enhance the content of our cooperation in the years ahead.

The visit is expected to further deepen India's strategic partnership with Indonesia and Singh's scheduled meeting with Indonesian Susilo Bambang Yudhoyono may be the last one during the latter's tenure as the President of South East Asian country.

Presidential Elections are expected to be held in Indonesia in April 2014 after Yudhoyono completes his second term.

India and Indonesia inked a strategic partnership agreement in 2005, about a year after both Singh and Yudhoyono assumed leadership in their respective countries.

The India-Indonesia bilateral trade has grown by nearly five times since this partnership, to about USD 20 billion currently, while it is targeted to reach USD 25 billion by 2015.

Singh also held bilateral meetings with the Prime Ministers of Australia and Japan on the sidelines of EAS and ASEAN summits in Brunei's capital Bandar Seri Begawan yesterday.

Officials said that relationships with ASEAN and other Asian countries are now moving towards more strategic partnerships as areas of cooperation have expanded from only economic issues to security, defence, intelligence sharing etc.

Even on trade, the relations would grow multi-fold after the FTA on services and investments is signed with ASEAN later this year and gets implemented by July 2014.

The issue of maritime security was also discussed by various leaders in Brunei, while other areas where cooperation is expected to increase include counter terrorism measures, non traditional security threats and disaster mitigation and management.

On South China Sea dispute, India made its position clear that the freedom of navigation should be there as per international norms and an early resolution should be worked by first making early progress towards adoption of Code of Conduct norms.

Asked about a different approach taken by China on this issue, officials said India was very clear on its position irrespective of any other country's view.

They said that there were certainly some differences among countries on the issue of sovereignty, but India was firm on its stance that these issues should be resolved through consultations as per the international norms.

Sunday, October 6, 2013

APEC leaders seeks ways to foster growth

Indonesia's President Susilo Bambang Yudhoyono is urging Asian business and political leaders to do more to counter the economic headwinds confronting developing countries by dismantling barriers to trade and investment.

Yudhoyono told a regional summit that as advanced economies are speeding up after a gradual recovery from the global recession, emerging economies are slowing, dogged in some cases by trade deficits, capital flight and weakening currencies.

"The advanced economies are experiencing recovery and showing faster growth while emerging economies ... are facing a slowdown," he said at the annual meeting of the Asia-Pacific Economic Cooperation forum held amid tight security on the Indonesian resort island of Bali.

"APEC is in the ideal position to help the recovery of the global economy," said Yudhoyono, emphasising the importance of preventing protectionism and opening markets further to maximise prosperity.
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His comments were consistent with a draft of the APEC leaders' declaration, seen by The Associated Press, which is set to be released at the end of the summit. It says the region faces the backdrop of a fragile and uneven global economic recovery and should guard against pressures to raise trade barriers.

Reductions in tariffs over the past 25 years have yielded nearly $59 billion in savings for businesses, said Yudhoyono, whose own country is struggling not to lose gains that have made the world's largest Muslim country a rising economic power in the region.

Yudhoyono said Indonesia's recent troubles with a weakening currency and inflation were transient.

"We are convinced this is a short-term challenge. Indonesia will remain a land of opportunity and growth," he said.

Singaporean prime minister Hsien Loong said that Asia is pressing ahead with reforms as the US, China and Japan - the world's No. 1, 2 and 3 economies - grapple with their own internal issues.

The APEC summit offers Indonesia a chance to showcase its own progress and possibly attract foreign investment it needs to help modernise its roads, ports, and other infrastructure.

"As the chief sales person of Indonesia incorporated, let me urge you to take advantage of our opportunities," Yudhoyono said, pointing to a potential $1.8 trillion in business prospects in a wide array of businesses.

With the US bogged down in a congressional stalemate over the national budget, forcing President Barack Obama to call off his own attendance at the APEC summit, smaller economies in Asia are watching closely to see how the biggest economies fare.

The 21 economies in APEC, which range from tiny Brunei to giant China, are hoping to reach agreement on at least some reforms that might help break a logjam in world trade talks ahead of a WTO meeting in Bali in December.

Credits: smh news