Mon, 24 Jan 2011

Jakarta (ANTARA News) - President Susilo Bambang Yudhoyono`s two-day working trip to India is expected to enhance economic cooperation between the two countries in the field of trade and investment.

"The visit to India is intended to step up bilateral cooperation between the two countries in the field of trade and investment," President Yudhoyono said in a press statement at Halim Perdanakusuma airport before leaving for India on Monday.

Yudhoyono said that his meeting with Indian Prime Minister Manmohan Singh on Tuesday would be followed with the signing of 16 memoranda of understanding (MoUs) on cooperation in the field of politics, economy, education, and technology.

The head of state explained that achievements and evaluation of strategic cooperation between Indonesia and India, signed in 2005, would be discussed at the meeting with Indian prime minister.

"On Tuesday I will meet with a number of Indian officials, among others the country`s coalition and opposition leader, then in the afternoon I will attend a business forum with around 500 leading business makers from India and Indonesia," the president said, adding that the 16 MoUs between the government to business, and business to business would be signed then.

President Yudhoyono said that according to Indonesian Investment Coordinating Board (BKPM), an investment value of US$15 billion would cover the cooperation between the two countries business world in the field of infrastructure, manufacture, natural resources and services.

According to the head of state, trade relation between Indonesia and India rose significantly in the past five years, because in 2005 the total trade value was US$4 billion but in 2010 it rose to US$12 billion.

"Indonesia is the second largest business partner with India in Asean countries," the president said.

Besides visiting India, President Yudhoyono and his entourage will also make a working trip to Davos, Switzerland, to attend world economic forum before returning to Indonesia on January 30, 2011.