Taiwan, Indonesia sign economic co-operation agreement
TAIPEI - Taiwan and Indonesia have signed an MoU on comprehensive economic co-operation, underscoring a commitment to expanding mutually beneficial trade and investment ties. The accord is line with the Taiwan's New Southbound Policy, which seeks to deepening links with the 10 ASEAN member States, six South Asian countries, Australia and New Zealand.
Taiwan and Indonesia will establish a platform to promote co-operation across agriculture, infrastructure, investment and trade. Working groups will also be set up to map out specific projects and help Taiwan firms explore business opportunities in Indonesia.
One potential area for collaboration is in the technology used to dredge reservoirs, Taiwan's Ministry of Economic Affairs (MOEA) said. The MOEA's Water Resources Agency plans to lead a delegation to Indonesia to explore joint infrastructure projects in this field.
Bilateral trade between Taiwan and Indonesia increased 14.8% to US$8.09 billion in 2017, according to statistics from the MOEA's Bureau of Foreign Trade. www.mofa.gov.tw (ATI).