Tue, 23 Nov 2010

From:

VIVAnews - Total trade volume between China and Indonesia is targeted to reach US$40 billion by 2010.

Chinese Ambassador to Indonesia, Zhang Qiyue, said the trade volume of both countries between January and October 2010 reached US$33.75 billion.

"It rises 53.9 percent compared to the same period of last year," said Zhang today, Nov 23.

Zhang zoomed in the total trade of both countries at US$40 billion by 2010. If it is achieved, it would be the highest record broken by Indonesia and China. In addition, both countries have agreed to level up the total trade volume at US$50 billion by 2014.

He said total trade between Indonesia and China as of 2001 has constantly increased by 25 percent per year.

Apart from the Chinese Ambassador, Indonesian Deputy Minister of Trade, Mahendra Siregar, said the trade volume with China is likely to hit US$30 billion.

The disparity is a result of the different approaches applied during the calculation processes. "It's normal to have different outcomes," he said.

Mahendra said the government now focuses on making equal the balance between Indonesia and China.

According to him, the deficit in trade balance reaches US$7.2 billion in 2008; US$4.6 billion (2009); and US$4.7 billion in August 2010.