Key Agreements
During the dialogue, India and Indonesia signed several agreements to enhance trade and investment cooperation. These agreements cover a wide range of sectors including energy, tourism, and infrastructure. One of the notable agreements is the Memorandum of Understanding (MoU) on Cooperation in the Field of Pharmaceuticals, which aims to promote collaboration in research and development, production, and marketing of pharmaceutical products.
Bilateral Trade
Bilateral trade between India and Indonesia has been steadily growing over the years. In 2020, the total trade between the two countries reached USD 21.12 billion, with India’s exports to Indonesia amounting to USD 15.68 billion and imports from Indonesia totaling USD 5.44 billion. Both countries have expressed their commitment to further enhance trade relations and explore new avenues for collaboration.
Investment Opportunities
During the dialogue, both India and Indonesia highlighted the investment opportunities available in their respective countries. India, with its growing economy and favorable business environment, offers attractive investment prospects in sectors such as manufacturing, infrastructure, and technology. Indonesia, on the other hand, is the largest economy in Southeast Asia and offers potential for investment in sectors like renewable energy, agriculture, and tourism.
Conclusion
The India-Indonesia Economic and Financial Dialogue marks an important step towards strengthening bilateral ties and expanding economic cooperation between the two nations. The signing of various agreements and discussions on trade and investment opportunities reflect the mutual commitment to foster growth and prosperity. With both countries recognizing the potential for collaboration, it is expected that the bilateral trade and investment will continue to flourish in the coming years.
| Year | Total Trade (USD billion) |
|---|---|
| 2018 | 19.06 |
| 2019 | 20.08 |
| 2020 | 21.12 |
Follow DelhiBreakings on Google News
Superfast News Coverage by DelhiBreakings.com team.
For Superfast national news and Delhi Breaking Stories visit us daily at https://delhibreakings.com
