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India & Indonesia agree to trade to $50 billion

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India and Indonesia have agreed to double their efforts to boost bilateral trade to $50 billion by 2025. As per the record of Indonesia’s Central Statistics Agency (BPS), trade between the two countries in 2017 was $18.13 billion in 2017 with Indonesia’s exports to India reaching $14.08 billion and its imports from India standing at $4.05 billion. 

 

Prime Minister Narendra Modi said, talks with President Joko Widodo. Prime Minister Modi, who arrived here last night on his first-ever official visit to Indonesia, exchanged views with President Widodo on potential areas of cooperation in areas like defence, maritime security, trade and economy.

 

In a joint statement issued after the talks, the two countries said they have agreed to work intensively for the early conclusion of the Regional Comprehensive Economic Partnership and reiterated that it needs to be comprehensive, fair and balanced with benefit to all member states. The two leaders also instructed officials to optimise the cooperation between ASEAN and India for establishing a sustainable and mutually beneficial trade relations.

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