China have set to change dramatic tactics on depending the western markets to upbeat their trade as they seek Indonesia to strengthen the economic co-operation to amid another global uncertainty.
China have already been trading with Brazil as they total around $25bn (£16bn) in business. Some Brazilian schools have even seen a rise of children starting to take the language of learning Mandarin. As part of the BRICS, China choose Indonesia from the MIST (the next tier of large emerging economies – Mexico, Indonesia, South Korea and Turkey) into consideration, as they have raised in recent years of their economic growth in sustaining better returns.
Monday held a business forum, whom around 200 Chinese and Indonesian entrepreneurs and high level representative from companies gathered together organised by China’s Promotion of International Trade Council and Chamber of Commerce and Industry of Indonesia.
Hua Jianmin, Vice Chairman of the Standing Committee of China’s National People’s Congress, the country’s top legislative body, said China and Indonesia have faced severe challenges in the past four years due to the international economic crisis. With the advantages of the population and the labour it holds, “China and Indonesia should strengthen trade and investment coöperation and promote further development of bilateral economic ties in a bid to combat the economic crisis and give to the global economic recovery,” Jianmin explains, “there are a lot of economic potential to be explored.”
Data from the Chinese embassy in Indonesia shows in the first nine months of this year, foreign direct investment from China to Indonesia increased more than 200%.
Indonesia is reaping with the advantage of young and growing populations and a sustained recovery in investment levels. An open foreign trade and investment regime gives a attractiveness to both domestic and foreign investors.
Mari Elka Pangestu, Indonesia’s Tourism and Creative Economy Minister thought well of the forum and is optimistic for the future coöperation between China and Indonesia.
China and Indonesia has established their strategic business partnership since 2005, and the bilateral relations between the two countries have entered an era of development featuring more trade, investment, tourism and economic co-operation. What lies next now depends, what can be learnt to adapt from the mistakes of the economic downpour in 2007 will become sustainable for the future and seek a better Indonesia as a key player for investors portfolio.
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