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Indonesia, Philippines to boost trade, investment

Source:   Time:

JAKARTA, March 8 (Xinhua) -- Indonesian President Susilo Bambang Yudhoyono said on Tuesday that Indonesia and the Philippines planned to raise their trade volume and cooperation in investment in the future.

President Yudhoyono told a joint press conference with his Philippine counterpart Benigno Aquino III after a meeting at the State Palace that the trend of bilateral trade had risen in recent years.

"We agreed that trade and investment would be raised further," Yudhoyono said.

He said that the trade volume had increased since 2009 with a value of 2.9 billion U.S. dollars and it increased to 3.89 billion U.S. dollars in 2010.

Both leaders also agreed to carry out cooperation in the sectors of fishery, energy, transportation and tourism.

ASEAN tourists, including those from the Philippine, have contributed the most to Indonesia's foreign tourist arrivals, according to Tourism Minister Jero Wacik.

The two countries would also cooperate on managing migrants workers, said Yudhoyono.

President Aquino III is having a three-day state visit in Indonesia and would continue his trip to Singapore on March 9.

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