President Park Geun-hye discussed ways to boost bilateral economic cooperation between Korea and Indonesia with a delegation of high-ranking Indonesian officials on September 25 in Cheong Wa Dae.
President Park, who plans to visit Indonesia for the APEC Summit this October, welcomed the delegation led by Coordinating Minister for Economics of Indonesia Hatta Rajasa. "Minister Rajasa's fourth visit to Korea along with the delegation shows a good example of development in Korea-Indonesia relations," said the president, mentioning the 40th anniversary of the establishment of Korea-Indonesia diplomatic relations and the 3rd Korea-Indonesia Joint Committee on Economic Cooperation, both of which the delegation plans to participate in.
In response, the Indonesian economic minister congratulated Park on her inauguration this February and conveyed greetings from Indonesian President Susilo Bambang Yudhoyono who expressed his hope to meet her at the upcoming APEC Summit.
President Park expressed her hope that Korea and Indonesia can achieve their goal of reaching a bilateral trade volume of USD 50 billion by 2015 and USD 100 billion by 2020, and extend the cooperation to broader areas. The goal of bilateral trade volume was agreed upon by the two countries in March 2012. "Locating Indonesia's eighth investment promotion center in Korea can help more Korean firms enter into Indonesia," said the president.
President Park expressed her gladness for Korea's participation in the Indonesia Economic Master Plan under which the Indonesian government aims to advance the country's economy. "The Comprehensive Economic Partnership Agreement (CEPA) negotiations between Korea and Indonesia made meaningful progress recently," said President Park, urging the Indonesian government to take interest in the negotiations so that it can bear fruit.
The Indonesian economic minister expressed his hope that Indonesia and Korea can cooperate in implementing the country's economic development master plan and more Korean carmakers and IT firms can enter Indonesia.
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