Malaysia Confident of Positive Trade With Indonesia
World Economy

Malaysia Confident of Positive Trade With Indonesia

Malaysia is confident that bilateral trade with Indonesia remains positive despite the volatile economic landscape, Prime Minister Datuk Seri Najib Tun Razak said.
He said although the trade target of $30 billion between Malaysia and Indonesia set earlier might not be achieved, the country’s second priority is certain, that is to continue to promote trade and investment growth, Bernama reported.
“At present, our statistics show Malaysia’s investments in Indonesia stood at $3.97 billion between 2008 and September 2014 while that of Indonesia’s in Malaysia were $1.89 billion,” he told a press conference after meeting Indonesian President Joko Widodo at the Perdana Putra Complex here, Friday.
Najib said he told Widodo Malaysia welcomes investors from Indonesia and likewise Widodo said Malaysian companies are also welcomed to invest in Indonesia and they would be given priority.
“He (Widodo) also explained the opportunities available and Indonesia’s priorities,” Najib said.
The prime minister said Proton would sign a memorandum of understanding with an Indonesian business partner on the Asean car project today (Friday) afternoon.
“President Widodo shared his views on this and showed keen interest to make this project a success,” Najib said.
Meanwhile, Widodo, who also fondly known as Jokowi, said Indonesia is inviting Malaysian companies to invest in the development of infrastructure such as ports, railways, airports and energy plants.
“We are providing the widest opportunity to investors from Malaysia,” he said.
Widodo said he discussed with Najib on the lifting of fuel subsidies by Indonesia and and the setting up of a national office to provide better services to foreign investors in Indonesia.
Widodo, who was sworn in as president in October 2014, picked as for his first state visit.
Malaysia is one of the biggest trading partners of Indonesia with bilateral trade of between RM24 billion to RM25 billion and also one of the biggest investor in the republic.
Up to November 2014, bilateral trade reached US$19 billion, and Malaysia’s investments in Indonesia touched close to US$1 billion currently.
Malaysians mostly invest in oil palm, banking, mining, telecommunications and health sectors in Indonesia.

Short URL : http://goo.gl/Ld5GbG

You can also read ...

The OECD predicts UK growth will slow sharply next year. Its GDP will slow from 1.8% to 1.6% for 2017, before dropping to 1% in 2018.
The global economy looks set to post its best performance in...
Japan Exports Jump 18 Percent, Fastest in Four Years
Booming shipments of cars and electronics in August drove up...
Asian Firms’ Confidence Slips  as Geopolitical Tensions Rise
Business confidence among Asian companies fell for the first...
Private firms, mostly SMEs, generate about 60% of China’s GDP and around 80% of the country’s jobs.
China’s value-added tax reform, a key part of supply-side...
Unemployment came out as the top concern in Europe, South Asia and sub-Saharan Africa, in second place is  Latin America, and in third place is the MENA region.
Unemployment is the biggest risk for businesses globally,...
Tata, Thyssenkrupp Announce Steel Merger
Industrial conglomerate ThyssenKrupp and Indian group Tata...
Brazil Improves But Political Uncertainty Keeps Fiscal Deficit High
The worst might be over, yet there are still notable concerns...
South Africa’s Stable Inflation Boosts Chances of Rate Cuts
South African inflation rose less than expected in August,...