Indonesia to foster economic cooperation with RoK
Indonesian President Joko Widodo (Jokowi) will pay an official visit to the Republic of Korea (RoK) on September 10-11 to strengthen economic relations.
Indonesian President Joko Widodo (Photo: AFP/VNA)Jakarta (VNA) - Indonesian President Joko Widodo (Jokowi) will pay an official visit to the Republic of Korea (RoK) on September 10-11 to strengthen economic relations.
ANTARA News quoted the Indonesian Foreign Ministry’s East Asia and Pacific Director Edi Yusup as saying that this will be a return visit after RoK President Moon Jae-in visited Jakarta in 2017, marking 45 years of diplomatic relations between the two countries.
In Seoul, President Jokowi will meet his RoK counterpart Moon Jae-in and attend a business forum with Korean big companies," he said.
The two governments will sign several memoranda of understanding (MoUs) in various fields, including legislation, immigration, economy, development of human resources, maritime security, as well as environment and forestry.
Meanwhile, 10 other MoUs will be inked during the business forum that will cover automotive, energy, infrastructure, and transportation, with an investment value estimated to reach 1 billion USD.
The RoK is Indonesia’s fourth-largest investor, with investment value reaching 2.2 billion USD in 2017.
Several Korean companies have expressed interest in investing in Indonesia. Steelmaker POSCO will cooperate with Indonesian steel manufacturer Krakatau Steel to boost steel production by one tonne, Lotte Corporation plans to build "the biggest petrochemical factory in Southeast Asia" located in Cilegon, West Java, and Hyundai Motor Company aims to construct a car factory in Indonesia.
During his stay in Seoul, President Jokowi is also scheduled to deliver a public lecture at Hankuk University.
Indonesia and the RoK agreed to lift bilateral cooperation to a special strategic partnership during President Moon’s visit to Jakarta last year.-VNA
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