Indonesia, Taiwan accord to boosting economic cooperation

Jakarta (ANTARA) - The Taiwanese government reiterated its commitment to boosting investment and trade cooperation with Indonesia on account of the myriad new-fangled opportunities sprouting up in various Indonesian provinces.

"We warmly welcome Taiwan's new strategy called the New Southbound policy launched by Taiwanese supreme leader Tsai Ing-wen," Chief of the Indonesian Regional Representative Council (DPD) Mahyudin remarked during a meeting with Chief of the Taiwan Economic and Trade Organization (TETO) Peter Lan at the parliament building in Jakarta.

Economic and trade relations between Indonesia and Taiwan showed an upward trend as was mirrored by Taiwan's direct investment in Indonesia surpassing US$400 million this year, he noted in a written statement released on Tuesday.

In the meantime, trade between Indonesia and Taiwan had registered a 15.7-percent growth to reach $8.1 billion last year, viewed as being quite significant.

However, he believed the cooperation had yet to be expanded to cover other sectors, including the creative economy, which continues to develop in several parts of Indonesia.

Hence, he urged Taiwanese investors and business persons to increase cooperation with their Indonesian counterparts in 34 provinces.

In response, Lan explained that he and his entourage had approached the DPD since the Taiwanese government believed in its noteworthy role in boosting the country’s regional economy.

Lan highlighted the Taiwanese government’s keenness to seek inputs from DPD and the Indonesian government on ways to expand trade and economic cooperation.

Taking into account Taiwan's New Southbound policy, Indonesia, as the largest country in Southeast Asia, can further intensify cooperation in the fields of investment and trade.