Web portal to boost trade with Singapore

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.