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Indonesia, Singapore to boost cooperation

Xinhua, November 14, 2016 Adjust font size:

Indonesian President Joko Widodo and Singapore's Premier Lee Hsien Loong held bilateral talks in Indonesia's Central Java capital of Semarang on Monday, discussing ways to further expand economic ties between the two nations.

The meeting was held prior to the inauguration of the Indonesia-Singapore jointly-operated Kendal Industrial Park located in city of Kendal, western part of Semarang.

President Widodo said in a joint press conference that Singapore is Indonesia's key partner in various sectors.

He said the Kendal Industrial Park would represent "new icon" of bilateral relations between the two countries which would be increased further in the future.

Scheduled to commence in 2020, initial operation of Kendal Industrial Park that covers 860 hectares, was expected to facilitate up to 200 trillion rupiah (about 14.9 billion U.S. dollars) of investments, opening up to 500,000 jobs.

Singapore investment in Indonesia was recorded at 7.1 billion U.S. dollars in the first nine months this year, or 44 percent higher than in the same period last year.

Meanwhile, the two leaders on Monday agreed to set up a business council to enhance business networking of the two countries.

Premier Lee said the council will give an added-value to the partnership of the two countries, according to a statement.

The two sides also inked four deals on hospitality and tourism, digital economy, and a smart city development plan. Endit