Radio Australia, 9 August 2005
India and Indonesia seek to boost bilateral trade
India and Indonesia are exploring the possibility of an accord that will boost bilateral trade to $US10 billion by 2010.
Visiting Indonesian Trade Minister Marie Elka Pangestu says the two countries have decided to set up a joint study group to examine the possibility of a Comprehensive Economic Partnership Agreement.
India’s commerce minister, Kamal Nath, says the India-Indonesian Joint Business Commission will work out a timeframe for exploring such an agreement.
Both countries have a range of issues to sort out with the other, with India campaigning for removal of non-tariff barriers on its exports, including meat and other processed food.
Indonesia, on its part, wants to increase its palm oil exports to India and is seeking a lowering of tariffs on processed oil.