Malaysia and Indonesia have agreed to take measures to increase two-way trade from the current 20-23 billion USD to 30 billion USD by 2015.

Speaking to reporters after the 10th Malaysia-Indonesia Annual Consultation in Jakarta on December 19, Malaysian Prime Minister Najib Tun Razak said he and Indonesian President Susilo Bambang Yudhoyono had decided that trade ministers from both countries would identify methods and ways to further push bilateral trade.

"One of the proposals is to abolish all non-tariff barriers between Malaysia and Indonesia . For example, if the Indonesian halal certificate is accepted in Malaysia , we hope the Malaysian halal certificate is also accepted in Indonesia ,” he said.

"I think it's important for us to make reciprocity a principle for us to identify methods and ways to boost bilateral trade," he added.

Another proposal by Malaysia accepted in this year’s consultation was that cooperation to ensure palm oil prices are more stable and appropriate as both Indonesia and Malaysia are the world's largest producers of the commodity.

This also included stepping up two-way cooperation to unfair pressure on both countries when coconut oil was labeled as not environmentally-friendly or given other negative labels, noted PM Najib.

He said achievements in the Malaysia-Indonesia Annual Consultation shows that it is an important mechanism in raising bilateral ties to a higher level. The consultation brought in benefits and productiveness for both countries.

"Each year, we can see and measure the progress and success of the increasingly amicable and strong relationship between Malaysia and Indonesia ", he said.

Malaysia-Indonesia bilateral ties have been very good in recent years. Malaysia is the seventh largest export country and the fourth largest import country for Indonesia.

Two-way trade between the two nations hit 16.22 billion USD in the first ten months of this year, up 2.8 percent from the same period last year, according to Bernama.-VNA