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S'pore, Indonesia hold economic working groups ministerial meeting

Minister for Trade and Industry Lim Hng Kiang and Indonesia's Coordinating Minister for Economic Affairs M Hatta Rajasa co-chaired the 4th Singapore-Indonesia Six Bilateral Economic Working Groups Ministerial Meeting on Tuesday.

SINGAPORE: Minister for Trade and Industry Lim Hng Kiang and Indonesia's Coordinating Minister for Economic Affairs M Hatta Rajasa co-chaired the 4th Singapore-Indonesia Six Bilateral Economic Working Groups Ministerial Meeting on Tuesday.

An MTI statement said the meeting underscores the strong economic relations between Singapore and Indonesia, and the mutual interest to strengthen economic collaboration.

During the meeting, the two sides noted good progress made across the six working groups, covering cooperation in the islands of Batam, Bintan and Karimun and other Special Economic Zones; investments; air connectivity; tourism; manpower; and agri-business.

The statement said the Six Bilateral Economic Working Groups is an important platform to advance bilateral economic cooperation between Singapore and Indonesia.

In 2013, bilateral trade between Singapore and Indonesia reached S$74.8 billion, making Indonesia the second largest trading partner of Singapore amongst ASEAN members.

Singapore was Indonesia's second largest foreign investor in 2013, while Indonesia was Singapore's top source of tourists in 2012.

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