OMAR ABDULLAH FOR INCREASED TRADE & INVESTMENT PARTNERSHIP BETWEEN INDIA & INDONESIA
Date : 23 Apr 2001
Location : New Delhi
Shri Omar Abdullah, Minister of State for Commerce & Industry, has called for an increased interface between India and Indonesia, both at the Government and business levels, to impart greater dynamism to the bilateral trade and economic relationship between the two countries. He was speaking at the interactive meeting organised by the Federation of Indian Chambers of Commerce & Industry (FICCI) with an Indonesian business delegation lead by Mr. Luhut B. Pandjaitan, Indonesian Minister of Industry & Trade.
Shri Abdullah said that although Indonesia was India’s third largest trading partner with the bilateral trade between the two countries amounting to US $ 1.3 billion, numerous untapped opportunities existed in the fields of textiles, sugar, edible oil, information technology and other technology intensive sectors. Besides these, joint exploration of forest and mineral reserves, drugs & pharmaceuticals, joint research & development in knowledge-driven industries are the focus areas where both countries can
achieve a lot in the coming years, he said. Welcoming the organisation of such interactive meetings, he said that India wanted to understand the various concerns of Indonesian business through these sessions in order to best address them.
The Minister assured the Indonesian delegation about the safety of their collaborations with Indian business and industry. India welcomed Foreign Direct Investment (FDI) in almost all sectors, except those of strategic concern, he added. Shri Abdullah also expressed confidence that together India and Indonesia will be able to face the challenges of the global economic order more effectively.