India, Indonesia sign 18 trade pacts worth USD 15.1 bn

Posted By: Pti
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New Delhi, Jan 25 (PTI) India and Indonesia today signed18 agreements worth USD 15.1 billion in sectors like mining,infrastructure and manufacturing.

"I very much welcome the signing of 18 business MoUs ininfrastructure, manufacturing, mining and other areas worthUSD 15.1 billion," Indonesian President Susilo BambangYudhoyono said at a business meeting here.

GVK Power and Infrastructure has signed two MoUs with theIndonesian government to develop greenfield internationalairports in Bali and Java.

Both countries have also set a target for bilateral tradeto touch USD 25 billion in the next five years.

"We are growing stronger as economic partners. Ourbilateral trade tripled in last 5 years from USD 4 billion in2005 and is expected to reach USD 12 billion in 2010. Our nexttarget is to double this in the next five years to USD 25billion," Yudhoyono said.

Speaking on the ocassion, Commerce and Industry MinisterAnand Sharma said there are huge opportunities available forbusinessmen of both countries.

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