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NEWS UPDATES 2 December 2009

Indonesia expects trade with China to exceed $30 billion in 2010

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Indonesian President Susilo Bambang Yudhoyono has expressed optimism the value of Indonesia-China trade would exceed $30 billion next year because the figure was already achieved in 2008, reported Antara.

President Yudhoyono said Indonesia was optimistic enough to set its new target for trade with China at $50 billion for the next five years. He expressed his optimism when he received a member of the Communist Party of China (CPC)’s political bureau, Liu Qi, at his office in Jakarta on Tuesday.

After the meeting, presidential spokesman Dino Patti Djalal said with serious efforts and support from the two countries governments, and the cooperation of private sectors between the two countries, the target of $50 billion trade value in the next five years would be reached.

"The target of $30 billion for 2010 was reached in 2008 or two years faster than expected, and this reflects the extraordinary dynamics of the trade and investment relations between the two countries," Patti Djalal said.

The Indonesian and Chinese economies, according to Djalal, were predicted to grow well in the future and therefore the bilateral trade value target would be increased.

"The new target of $50 billion can be reached because the pace of Indonesia`s economic development continues to move ahead while China`s this year is predicted to reach 8.5 percent. Therefore President Yudhoyono was optimistic that the $50 billion target can be reached," he said.

But Djalal explained that at the meeting President Yudhoyono and Liu Qi did not discuss in detail the kind of trade sector and investment to be stepped up by the two countries to reach the target.


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