Indonesia and Singapore are striving to expand investment and trade in a bid to tap cooperation potential, according to Indonesian Foreign Minister Retno Marsudi.

Retno made the remarks after meeting her Singaporean counterpart K. Shanmugam in Singapore on November 26.

According to the Indonesian Foreign Affairs Ministry’s press release, Singapore is willing to increase investments in the maritime field as well as importing more agricultural products, especially fruits and vegetables, from Indonesia.

The two sides also agreed to tighten cooperation in training diplomats and expand the labour market.
This week, a delegation consisting of 25 leading firms from Singapore will visit Indonesia to seek investment opportunities.

It is expected to see the signing of a MoU on energy collaboration between Cyclect Energy Pte Ltd and PT Berkat Manunggal Jaya Indonesia during the occasion.

Singapore is Indonesia’s third largest trade partner, obtaining a two-way trade value of 42.26 billion USD in 2013.

Singapore’s investment in Indonesia reached 4.67 billion USD in the year.-VNA