INDONESIA, KOREA TARGET $30 MILLION IN BILATERAL TRADE

Indonesia and South Korea have set a target of increasing bilateral trade to US$30 million by 2020, President Joko “Jokowi” Widodo said in Seoul on Monday.

The target is expected to bolster bilateral ties with South Korea in honor of the 45^th anniversary of diplomatic relations between the two countries.

“Amid [financial] uncertainties around the world, Indonesia and South Korea manage to maintain a strong [diplomatic] relationship. Our trade in 2017 increased by 20 percent,” Jokowi said during his third state visit to Seoul on Monday.

Jokowi said he was optimistic about achieving the goal since investors and businesspeople in South Korea responded positively to the prospect of increased bilateral trade.

The Indonesian leader has engaged in talks with businesspeople in Seoul in his bid to improve South Korean investment in Indonesia.

“In the meetings, they [the businesspeople] expressed appreciation for Indonesia, which has improved the investment climate for foreign investors,” said Foreign Minister Retno LP Marsudi, who accompanied Jokowi in the meetings.

The business leaders also reiterated their commitment to help Indonesia improve its domestic industries and catch up with foreign players.