World

Indonesia, Philippines sign 12 agreements

The Indonesian Chamber of Commerce and Industry (Kadin) has held business dialogues and signed 12 memoranda of understanding (MoU) with Philippine partners during President Joko Widodo’s visit to the Philippines.
Indonesia, Philippines sign 12 agreements ảnh 1Philippine President Rodrigo Duterte (R) meets with Indonesian President Joko Widodo in Manila. (Photo: AFP/VNA)

Jakarta (VNA) – The Indonesian Chamber of Commerce and Industry (Kadin) has heldbusiness dialogues and signed 12 memoranda of understanding (MoU) with Philippinepartners during President Joko Widodo’s visit to the Philippines.

Thesigning of these agreements aimed to strengthen bilateral cooperation andinformation exchange on trade barriers of the two countries, said ShintaWidjaja Kamdani, Kadin’s Deputy Chairwoman for International Relations.

Theinked MoUs involved property, pharmaceutical industry, infrastructure,manufacturing, tourism, distribution and consumer goods with a total investmentof about 300 million USD.

Business expansion in the Philippines wouldextend Indonesian products reach, especially ones from small- and medium-sizedenterprises (SMEs). Successful Alfamart retailer stores of Indonesia are toopen 400 stores in the Philippines.

Indonesian President Joko Widodo began his state visit to thePhilippines from April 28 to attend the 30th ASEAN Summit and related meetingsin the capital city of Manila.

He met with host President Rodrigo Duterte and the two agreed toboost maritime security cooperation to put an end to piracy on the watersbetween the two countries.

Besides, the leaders also discussed other issues such as drugsfight, trade relations and people-to-people exchanges.

During his stay in the Philippines, the Indonesian Presidentattended the inauguration of a new shipping route linking eastern Indonesiawith south Philippines in the Davao region, which are separated by the Celebes Sea.

The new route is expected to cut short goodsdelivery time to 2.5 days and save 70 percent of the cost. It is part of the bilateral economic cooperation to raise the twocountries’ trade by 32 percent.

The Philippines is the 11th largest tradingpartner for Indonesia, with total bilateral trade valued at 3.51 billion USD in2015. In 2016, bilateral tradewas recorded at 4.9 billion USD, with an average growth of 6.3 percent made overthe past five years. - VNA

VNA
#Indonesian Chamber of Commerce and Industry #Kadin #MoU #Indonesia #Philippines #30th ASEAN Summit #Indonesian President #Joko Widodo #Rodrigo Duterte Indonesia Philippines
Follow VietnamPlus

Related News

Malaysia, Indonesia, Philippines cooperate to tackle IS

Malaysia, Indonesia, Philippines cooperate to tackle IS

Malaysia, Indonesia and the Philippines have agreed to establish a trilateral cooperation to fight activities and ideas of the self-claimed Islamic State (IS) in the region, said Malaysian Deputy Prime Minister Zahid Hamidi on January 26.
Indonesia: FDI growth slows down in Q1

Indonesia: FDI growth slows down in Q1

FDI in Indonesia rose only 0.9 percent on an annual basis in the first quarter this year, slowing from the 2.1 percent increase in the previous quarter amid global economic uncertainties.
Vietnam, Indonesia air forces enhance ties

Vietnam, Indonesia air forces enhance ties

Lieutenant General Phan Van Giang, Chief of the General Staff of the Vietnam People’s Army and Deputy Defence Minister, hosted a reception in Hanoi on April 27 for visiting Air Force Chief of Staff of Indonesia General Hadi Tjahjanto.

See more

Indonesian Foreign Minister Sugiono (third, left) and his New Zealand counterpart Winston Peters (third, right) co-chair the 12th meeting of the Indonesia-New Zealand Joint Ministerial Commission (JMC) in Jakarta, on June 13. (Photo: ANTARA)

Indonesia, New Zealand promote cooperation on strategic areas

The cooperation between Indonesia and New Zealand covers several fields, including economy, trade, investment, and education. In the economic sector, the ministers agreed to encourage more balanced and sustainable trade to achieve the bilateral trade target of 6 billion NZD (3.62 billion USD) by 2029.

Cambodian workers collect salt from the fields ready to store it in warehouses in Kampot province. (Photo: Phnom Penh Post)

Adverse weather drives fall in Cambodia’s salt production

March to April is the full time for salt harvesting, but in March, there was a sudden rain in a day that disrupted the production for a week and 10 days, he said, adding that in April, it rained continuously, so the association decided to finish the harvest by the end of April.

Through the ASEAN Economic Community Strategic Plan, ASEAN member countries aim to significantly enhance intra-regional trade by building greater resilience to external shocks and promoting the connectivity of the common market for goods, services and investment. (Photo: VNA)

ASEAN poised for greater role in global economy

ASEAN is a peaceful region, which makes it a conducive location for foreign direct investment and business ventures that can come from across the globe, said the chief economist of Bank Muamalat Malaysia Berhad.

Indonesian Minister of Maritime Affairs and Fisheries Sakti Wahyu Trenggono atUNOC-3 at Port Lympia, Nice, France. (Photo: ANTARA)

Indonesia reaffirms sustainable ocean management commitment at UNOC-3

Indonesia implements blue economy concrete actions, such as expanding marine conservation areas to cover 30% by 2045, implementing responsible quota-based fisheries, promoting sustainable aquaculture, monitoring coastal ecosystems, and involving communities in reducing plastic waste in seas.

Cargo at Long Beach Port, California, the US. (Photo: Xinhua/VNA)

ASEAN accelerates trade talks with US ahead of tariff suspension deadline

According to the earlier US tariff announcement, Cambodia encounters the highest rates of 49%, followed by Laos (48%), Vietnam (46%), Myanmar (44%), Thailand (36%), and Indonesia (32%). Meanwhile, Malaysia, Brunei, the Philippines, and Singapore face lower rates ranging from 10% to 24%.

At the panel discussion (Photo: VNA)

Indonesia seeks urban infrastructure to combat flooding

Indonesia, with over 17,000 islands, is among the countries most vulnerable to rising sea levels, storms, flooding and seismic activity. Jakarta, in particular, is experiencing severe land subsidence — with some areas sinking by as much as 25 centimetres per year — which, coupled with tidal surges, has led to increasingly frequent and severe flooding.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz (Photo: Bernama)

Malaysia to hold second round of trade talks with US

Malaysia has expressed its readiness to negotiate in four key areas: addressing the US’s reported 24.8 billion USD trade deficit with Malaysia, removing non-tariff barriers, strengthening protections for technology and national security, and exploring the possibility of a bilateral trade agreement.