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Malaysia, Indonesia agree to increase bilateral trade, investment

Xinhua, February 6, 2015 Adjust font size:

Malaysian and Indonesian leaders agreed on Friday to promote bilateral trade and investment growth.

At a joint press briefing with visiting Indonesian President Joko Widodo, Malaysian Prime Minister Najib Razak said, although the two-way trade target of 30 billion U.S. dollars set earlier might not be achieved, the country's second priority is certain, that is to continue to promote trade and investment growth.

"At present, our statistics show Malaysia's investments in Indonesia stood at 3.97 billion U.S. dollars between 2008 and September 2014 while that of Indonesia's in Malaysia were 1.89 billion U.S. dollars," he said.

Widodo, who is on a three-day visit to Malaysia, said Indonesia is inviting Malaysian companies to invest in the development of infrastructure such as ports, railways, airports and energy plants.

Malaysia is one of the biggest trading partners of Indonesia with bilateral trade reaching 17 billion U.S. dollars in 2013 and 16.6 billion dollars last year.

Malaysians mostly invest in oil palm, banking, mining, telecommunications and health sectors in Indonesia. Endi