RI, Spain relations

Thu, 01 Jun 1995

RI, Spain relations

JAKARTA (JP): Indonesia and Spain signed two agreements here on Tuesday with an view to improving economic and investment cooperation between the two countries.

"I am confident that once Spanish entrepreneurs get to know and see more of Indonesia, they will begin to realize the tremendous possibilities for cooperating with their Indonesian counterparts," Minister of Foreign Affairs Ali Alatas (left) said after signing the agreements with visiting Spanish Minister of Trade and Tourism Javier Gomez-Navarro (right) in a ceremony at the former's office here.

One of the two agreements concerns the reciprocal promotion and protection of investments, while the other deals with the prevention of double taxation and fiscal evasion.

According to the Ministry of Foreign Affairs, Spain's investments in Indonesia are currently about US$132 million, mainly concentrated in the mining, furniture, electronics and hotel industries.(mds)

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