Web portal to boost trade with Singapore

The Jakarta Post, Jakarta

In a bid to help improve bilateral economic relations between Indonesia and Singapore, a special web portal called Network Indonesia Portal (http://www.iesingapore.com/networkindonesia) was launched late on Tuesday.

The launch was jointly assisted by visiting Singaporean Minister for Trade and Industry George Yeo and Indonesian Coordinating Minister for the Economy Dorodjatun Kuntjoro-Jakti.

Yeo said in his written speech that the launch of Network Indonesia would further strengthen ties between the business sectors of the two countries.

"Network Indonesia has great promise. I believe that it will complement and contribute to our bilateral relationship," Yeo said.

Yeo was accompanied by 128 business executives representing 92 companies from Singapore.

The portal will provide, among other things, facts and figures on Indonesia, updated economic figures, key states and special economic zones, and rules and trade regulations on doing business in Indonesia.

In 2002, Singapore was one of Indonesia's largest foreign investors, contributing US$3.3 billion worth of investment.

Elsewhere, Yeo added that the newly signed free trade agreement between Singapore and the United States (USSFTA) would further benefit both Bintan and Batam islands.

"The relationship (between Singapore and Bintan and Batam) will receive a significant boost when the integrated sourcing initiative under the U.S.-Singapore FTA comes into operation," Yeo said.

He said that the USSFTA was also likely to encourage more companies to invest in Indonesia.