Jakarta: Trade Minister Agus Suparmanto held a meeting with Singapore's Trade and Industry Minister Chan Chun Sing on the sidelines of the 35th ASEAN Summit in Bangkok, Thailand.
"Indonesia highly respects the bilateral cooperation with Singapore that has been well-established," Suparmanto noted in a statement here on Friday.
Both nations are on the same page over boosting bilateral trade, particularly through the establishment of six working groups: the working group on investment, manpower, transportation, agribusiness, tourism, as well as Batam, Bintan, and Karimun Special Economic Zone.
The two ministers also discussed steps to deepen negotiations on the Regional Comprehensive Economic Partnership (RCEP). RCEP is a concept of economic cooperation that involves 10 ASEAN member nations and six partner nations: China, South Korea, Japan, Australia, New Zealand, and India. RCEP negotiations have been held since 2013, with Indonesia playing the role of a country coordinator.
"Indonesia has encouraged the finalization of all agreements, and negotiation on market access can be completed soon, so the RCEP can be signed by the end of next year," Suparmanto remarked.
The minister lauded Singapore's move to back the progress in RCEP negotiations. (Antara)