India and indonesia on Tuesday signed 18 Memorandums of Understanding (MoUs) worth more than $15 billion in a bid to boost economic cooperation between two of Asia’s fastest growing economies.
The deals were signed in the presence of Indonesia,s President Susilo Bambang Yudhoyono at a meeting of business groups from both countries. With these, India has become one of the top investors in Indonesia, Indian commerce minister Anand Sharma said.
Addressing the meeting, Yudhoyono announced the launch of talks to conclude a comprehensive economic cooperation agreement.
Both sides have set a trade target of 25 billion by 2015 according to a joint statement put out by the Indian foreign ministry.