New Delhi, Feb 5, 2007 , (IRNA) - "India, China and Indonesia could become the leading economies of the world," said the vice-president of Indonesia at a business meeting in Mumbai Monday.
"I am confident that in the near future China, India and Indonesia could be the leading economies of the world, and Asia the development hub," said M Jusuf Kalla, vice-president of Indonesia, while speaking at an interactive meeting of a high-powered business delegation from Indonesia organized by Federation of Indian Chamber of Commerce and Industry (FICCI) in India's business capital Mumbai.
He said both India and Indonesia not only competed but also complemented each other based on their respective strengths.
He said that Indonesia was strong in export of commodities such as coal, metallic ores and scrap and that there were many areas like palm oil, LNG and gas, computer software and transmission towers in which the two countries could synergize.
Kalla said that both India and Indonesia could be very competitive in the world if they use their respective strengths in technology and resources effectively.
Earlier, FICCI President Habil Khorakiwala, in his welcome address, said "Indonesia is India's second largest export partner in ASEAN after Singapore."
"We look forward to Indian investments not only as two wheelers but also as countries coming together in building sophisticated things like ships, helicopters, planes, power stations, steel industries, etc."
He emphasized the need for the two countries to work together in the power, education, IT, pharmaceutical and technology sectors, where he saw great scope for progress.
He further said that so far Indo-Indonesian relationship has been in traditional areas.
S P Lohia, leader of the Indian-Indonesian business delegation, in his address said that the "Indo-Indonesian relationship goes back centuries, starting from the time when trade between Sumatra and Gujarat flourished. Today the time has come to take our bilateral trade to greater heights in the current global trading scenario." Indonesian Minister of Industry Fahmi Idris and Foreign Investment Board Director Muhammad Lutfi clarified various queries raised by captains of Indian industries present at the meeting.
They assured them they would look into issues which required urgent attention like differential tariffs, issuance of multiple visas, strengthening of the Indonesia-India Friendship Society, etc.
They also gave an overview of incentives and benefits that could be availed of by prospective Indian investors in Indonesia in the different sectors and regions of the country.
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