Singapore Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo have agreed to determine the Indonesia-Singapore Business Council to strengthen business networks and enhance cooperation.
“President Jokowi and I even have agreed to determine the Indonesia-Singapore Business Council so as to add value to our partnership. This will enable our corporations to determine contacts and gain a deeper understanding of the opportunities on either side,” said Prime Minister Lee at a press conference on Monday (November 14) after talks with the President of Indonesia.
Prime Minister Lee suggested that the council, composed of business leaders from each countries, could possibly be co-chaired by the Economic Development Board of Singapore (EDB) and the Indonesia Investment Coordinating Board (BKPM).
The Singaporean leader also thanked Indonesia for thwarting a militant missile attack plan in Batam that targeted Singapore’s Marina Bay.
He further praised Indonesia’s efforts to combat haze, which “made a difference this yr.” He also offered Singapore assist in coping with an issue that “affects all Southeast Asian countries.”
President Joko told reporters that it was a fruitful meeting with Prime Minister Lee and the Singapore delegation, during which, along with economic cooperation, the problem of terrorism and the South China Sea were also discussed.
He agreed that the 2 countries would proceed economic cooperation and welcomed the signing of a brand new cooperation agreement in the sector of tourism between the Ministry of Trade and Industry of Singapore and the Ministry of Tourism of Indonesia.
Both countries will cooperate within the areas of cruises, joint marketing and promotion, in addition to meetings, incentives, conventions and exhibitions.
It was certainly one of 4 agreements signed between the 2 countries on Monday. Other agreements include plans for joint capability constructing within the digital economy, hospitality and tourism, and the event of a sensible city in Makassar by trade agency IE Singapore.
They will expand the long-standing and robust economic ties between Singapore and Indonesia, which recorded bilateral trade value $58.7 billion last yr.
The retreat, which took place after President Joko’s state visit to Singapore in July last yr, was a part of a long-standing tradition of informal meetings between the leaders of the 2 close neighbors yearly to strengthen ties.
Prime Minister Lee and President Joko, higher generally known as Jokowi, kicked off the retreat with a “four-eyes meeting” before influential delegations from Singapore and Indonesia gathered for discussion.
The delegation’s meetings focused on economic cooperation between the 2 close neighbors, in addition to ways to cooperate on counter-terrorism, capability development and tourism.
The highlight of the retreat was the inauguration of the Kendal Industrial Park by Prime Minister Lee and President Joko on Monday afternoon.
The project, which was renamed Park by the Bay upon launch, is a three way partnership in Semarang between Sembcorp Development and Indonesian developer Jababeka and marks a brand new trend of Singaporean corporations venturing beyond places like Jakarta and Batam.
The park’s first tenant is Tat Wai, an SME based in Singapore. After the launch, company president and director Alfred Tan, Lee and Joko were taken on a tour of Tat Wai.
On Monday, Lee and his entourage met with Indonesian President and First Lady Iriana at the previous Central Java governor’s residence, which now serves as a ceremonial hall. It was in-built 1761 by the Dutch, and guests who visited this place included Sir Stamford Raffles, the founder of contemporary Singapore.
Prime Minister Lee is accompanied by his wife Ho Ching and nine political officials, including Deputy Prime Minister and Coordinating Minister for National Security Teo Chee Hean, in addition to the ministers of trade and industry, defense, foreign affairs and education.
Singapore was Indonesia’s largest foreign investor last yr and is on course to keep up that position this yr, after recording investments of US$7.1 billion (S$10 billion) in only the primary nine months of this yr.
Observers expect close economic cooperation to proceed despite periodic tensions over issues akin to cross-border haze, airspace management and, most recently, Indonesia’s tax amnesty.
The two countries first established diplomatic relations in 1967. The Singapore and Indonesia delegation can also be expected to debate how they may mark the fiftieth anniversary of bilateral relations next yr.
Source : Straits Times
