RI, Malaysia eye local currencies for trade

RI, Malaysia eye local currencies for trade

KUALA LUMPUR (Reuters): Indonesia and Malaysia Monday
discussed the use of their currencies in bilateral trade, an
Indonesian minister said after a meeting with Malaysian leaders.

"We discussed with Malaysian leaders investment cooperation
and intra-Asean trade and the use of local currencies to help
increase the value of local currencies and reduce dependence on
foreign currency," said Adi Sasono, minister of cooperatives and
small enterprises.

He said the use of local currencies in bilateral trading had
been implemented successfully between Malaysia and the
Philippines, and in Malaysia-Thai trade.

"In my opinion, we can do the same with Indonesia," he said
after meeting with Prime Minister Mahathir Mohamad and his
deputy, Anwar Ibrahim.

Adi said Anwar will send a letter to the Indonesian finance
minister over the proposal.

Indonesian Manpower Minister Fahmi Idris said the country will
improve its system of sending workers abroad particularly to
Malaysia.

He said the government will only allow skilled workers like
welders and skilled construction workers to work abroad.

About 755,000 Indonesians work in Malaysia and there is a demand
for another 46,000 in the plantation and construction sectors, he
said.