Turkey, Indonesia aim to reach trade volume of $10 bln

Turkey, Indonesia aim to reach trade volume of $10 bln

Gül and Indonesian President Yudhoyono pose with their spouses before the presidents' bilateral meeting.

June 30, 2010, Wednesday/ 17:22:00/ TODAY'S ZAMAN
President Abdullah Gül has said Indonesia and Turkey aim to reach a bilateral trade volume of $10 billion, stressing increasingly growing trade and economic relations.

Speaking at a press conference yesterday following his meeting with his Indonesian counterpart, Susilo Bambang Yudhoyono, in Ankara, Gül said they have revised their bilateral relations and have discussed international issues with Yudhoyono.

“Along with this, we have also discussed and decided to improve our relations in the economy, tourism, culture, education and defense industry sectors. Eight agreements that we signed today openly display the importance of relations between our nations,” Gül stressed.

The Turkish and Indonesian presidents are expected to attend the Turkish-Indonesian Business Forum today with businesspeople from both countries attending. The forum is organized by the Turkish Confederation of Businessmen and Industrialists (TUSKON), and more than 800 businesspeople will reportedly attend.

Noting that he will hold several meetings in İstanbul within the scope of the Turkish-Indonesian Business Forum on Wednesday, President Gül said his administration will motivate businesspeople to do more business with Indonesia.

Turkey’s major exports to Indonesia are wheat and flour, despite some impediments in trade. The bilateral trade volume between the two countries was $1.78 billion in 2009. The Turkish president said Indonesia is rich not only in regards to its population and geography but also its richness in natural resources. Underlining that the country is undergoing a comprehensive economic reform process, the president said the country is making a huge leap in development.

Saying Turkey is also a rapidly developing country similar to Indonesia, Gül stated that they are aware of the huge economic potential and that they plan to improve trade. “In terms of both investment and trade, our trade volume has now exceeded $1.5 billion, but in the short term we want to reach $5 billion and then our target is to reach $10 billion,” Gül said.

Before the press conference, Turkey and Indonesia signed eight agreements on defense, technical cooperation, small and medium business, cultural exchange, maritime transportation, development of the labor force, support for investment and media.

Speaking at the press conference, the Indonesian president said they aim to take the economies and economic relations of both countries to higher levels. “Now our aim is to reach $5 billion from the current $1.78 billion. As a result of great efforts through the private sector, we aim to reach that target,” Yudhoyono said.

Noting that they invited Turkish investors to Indonesia to invest in the agriculture, tourism, infrastructure and transportation sectors, along with others, Yudhoyono said they are working to improve cooperation in geothermal energy.

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