Friday, 04 May 2018 09:42

Indonesia-Brunei Agree to Increase Trade Cooperation

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Indonesia-Brunei Agree to Increase Trade Cooperation biro pers

Indonesia and Brunei are committed  to increase trade between the two countries in the future. The commitment was reached after a meeting conducted by President Joko Widodo and Sultan of Brunei Darussalam Sultan Haji Hassanal Bolkiah at the Presidential Palace of Bogor, West Java, Thursday, May 3, 2018.

President Joko Widodo, when delivering his introduction in a bilateral meeting, said that cooperation between the two countries has been well established. He also joyfully welcomed the visit of Sultan Brunei to Indonesia.

"Welcome Sri Sultan Haji Hassanal Bolkiah and all delegates from Brunei Darussalam at Bogor Palace, it is an honor for us to receive your visit to Indonesia," said the President.

The Sultan of Brunei Darussalam himself later revealed that his visit this time was a return visit to the presence of President Joko Widodo in the 50th anniversary of Sultan Hassanal Bolkiah Bertahta in October 2017 last year. He hopes that with this visit both countries can continue to strengthen friendship.

"I believe this exchange of visits reflects a close friendship and a long-standing understanding between the two countries," Sultan said.

After the meeting, the Minister of Foreign Affairs of the Republic of Indonesia, Retno Marsudi, explained that the two countries discuss about trade cooperation. She said that trade between the two countries has indeed declined in terms of trade value. However, the decline is not related to trading volume.

"Trade between Indonesia and Brunei has decreased, but this decline is not related to trading volume but with the value of trade due to the decline of oil prices.By Brunei previously exported oil to Indonesia with oil prices falling, the value of the trade decreased automatically, "she said.

To that end, the two leaders of the country committed to increase trade by among others exploring the potential cooperation, trade, and investment that can be done by both countries.

"Both leaders said that for the field of investment, for example, which has a high potential to be developed, among others in the field of fisheries, agriculture, shipping, and ports," she added.

Brunei Darussalam is also interested in investing in the development of "10 New Bali".

Another potential that continues to be improved is the sale of the main tool product weaponry system (alutsista) made in Indonesia. Retno said that they are primarily interested in armored vehicle personnel carriers and weaponry. ( rel biro pers )


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