India looks to strengthen relationship with Indonesia | SupportBiz

Policy Notes

India looks to strengthen relationship with Indonesia

 

The CII, Ministry of Commerce and Industry and the Indian embassy in Indonesia are hosting the “Made in India Show”, on March 6 to 8, 2012, in Jakarta. This show is expecting over 75 exhibitors with various workshops and interactive sessions that are aimed at strengthening the economic ties between the two countries.

The Indian Minister of commerce and, industry and textiles, Anand Sharma and the Indonesian minister of trade, Gita Irawan Wirajwan were present to inaugurate the milestone event on March 6, 2012.

At the inauguration, Sharma highlighted the growing economic ties between Indonesia and India in the education and technology sectors.

Sharma has been in talks with Wirajwan about the current economic policies between the two countries. Sharma is now seeking the further opening of the service sector in Indonesia. He said that: “Opening up the two economies for service trade would be a win-win situation for both the countries,” according to a SME News report.

Sharma added that under the ASEAN FTA in services and investments, Indonesia is required to make an improved offer on services.

Under the current policy, Indonesia does not allow the movement of health and banking professionals between the countries. Wirajwan has acknowledged the gap in services and has decided to discuss the situation further with the Central Bank of Indonesia and the Health Department of Indonesia.

Bilateral trade between Indonesia and India was at an all-time high of USD 20.13 billion in 2011. If Indonesia decides to open up their service sector, this number is likely to grow.