India and Indonesia have agreed to intensify efforts to explore ways and means of increasing trade and investment relations by eliminating trade barriers and creating better business environment. The two countries also set a bilateral trade target of $25 billion by 2015.
Towards this, India will be holding an `India Show' in Jakarta during 6-8 March 2012.
"India and Indonesia, which are among the seven leading emerging nations, have many complementarities in trade and investment that need to be explored by the businesses of both sides," Anand Sharma, India's commerce and industry minister and leader of the Indian delegation, who is on a visit to Indonesia, said.
"We have launched our bilateral CECA negotiations and I am glad to note that the negotiations have got off to a good start. As agreed by our negotiators, the bilateral CECA would build on what has already been achieved under the ASEAN-India FTA and would be a comprehensive agreement, covering economic cooperation, trade in goods and services, and investment," Sharma said.
"The India-Indonesia CECA would lead to a higher-level and mutually beneficial economic cooperation between the two countries," he added.
India and Indonesia announced plans for the CECA on 25 January 2011, during the visit of Indonesian President to New Delhi.