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Indonesia, Malaysia to improve trade ties


October 19, 2008

Indonesia, Malaysia to improve trade ties
Indonesia and Malaysia agreed at a two-day commission beginning on Tuesday to look into the definition of border trade stipulated by their border agreement signed in 1970 and revised in 2006, The Jakarta Post quoted an Indonesian official as saying.

"We have so many borders with Malaysia and we actually have not agreed yet on a comprehensive definition of border trade in the agreement," said Gusmardi Bustami, international trade cooperation director general of the Trade Ministry, on Friday.

Cusmardi expected that a better definition on border trade would consolidate and even boost bilateral trade and investment between the two countries, saying it can help maintain the flow of goods by sea and land and help impede illegal trade.

Indonesia and Malaysia also identified the problems and barriers to improve trade and investment cooperation at the commission.

The step is being taken, following a projected slowdown in the United States, the European Union and Japan next year.

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