Jakarta, Dec 10 (ANTARA News) - Indonesia and Slovakia have decided to enhance their bilateral relations by signing an agreement on energy development in Batam and cement factory construction in East Kalimantan, worth US$1.4 billion.
"This money is not a loan or part of the state budget. The money has been provided by private investors," said the Economic Coordinating Minister, Hatta Rajasa, after attending the Indonesia-Slovakia Business Forum on Monday.
The signing of the memorandum of understanding (MoU) was witnessed by the Economic Minister of Slovakia, Tomas Malatinsky, and a delegation of 20 businessmen from the country.
Hatta said cooperation in the energy sector includes the development of 2x60 MW power plants to meet electricity needs in Batam, financing of the project and the supply of electricity to Singapore.
"Hopefully, this groundbreaking project can be executed by March 2013," he said.
In an attempt to increase investments and trade between the two countries, the forum also looked into the third Joint Economic Committee, which will be held in Indonesia in 2013, as well as the opening of the Slovakia Investment and Trade Development Office in Jakarta.
"I believe there will be greater collaboration between Indonesia and Slovakia in the future," Hatta said.
Based on the data from several sources, trade between the two countries in the last five years has increased by 6.1 percent every year.
Currently, the total amount of trade between Indonesia and Slovakia stands at US$65.95 million (in 2011), a slight decrease as compared to 2010, when the trade value reached US$84.5 million.
Products that are exported from Indonesia to Slovakia include palm oil, natural rubber, footwear components and accessories for video recording.
Products that are imported into Indonesia from Slovakia include manufacturing machines, electronic goods, automobiles and explosives.
"This money is not a loan or part of the state budget. The money has been provided by private investors," said the Economic Coordinating Minister, Hatta Rajasa, after attending the Indonesia-Slovakia Business Forum on Monday.
The signing of the memorandum of understanding (MoU) was witnessed by the Economic Minister of Slovakia, Tomas Malatinsky, and a delegation of 20 businessmen from the country.
Hatta said cooperation in the energy sector includes the development of 2x60 MW power plants to meet electricity needs in Batam, financing of the project and the supply of electricity to Singapore.
"Hopefully, this groundbreaking project can be executed by March 2013," he said.
In an attempt to increase investments and trade between the two countries, the forum also looked into the third Joint Economic Committee, which will be held in Indonesia in 2013, as well as the opening of the Slovakia Investment and Trade Development Office in Jakarta.
"I believe there will be greater collaboration between Indonesia and Slovakia in the future," Hatta said.
Based on the data from several sources, trade between the two countries in the last five years has increased by 6.1 percent every year.
Currently, the total amount of trade between Indonesia and Slovakia stands at US$65.95 million (in 2011), a slight decrease as compared to 2010, when the trade value reached US$84.5 million.
Products that are exported from Indonesia to Slovakia include palm oil, natural rubber, footwear components and accessories for video recording.
Products that are imported into Indonesia from Slovakia include manufacturing machines, electronic goods, automobiles and explosives.