ZCZC
BCN-26
SINGAPORE-INDONESIA-INVESTMENT
Singapore, Indonesia set to conclude investment treaty soon
SINGAPORE, Sept. 8, 2018 (BSS/Xinhua) – Singapore and Indonesia agreed
here Friday to conclude ongoing negotiations of the Singapore-Indonesia
Bilateral Investment Treaty (BIT) before their leader hold a retreat in
October this year, according to a government press release.
It was reached during the 8th Singapore-Indonesia Six Bilateral Economic
Working Groups Ministerial Meeting, chaired by Singaporean Minister for Trade
and Industry (MTI) Chan Chun Sing and Indonesia’s Coordinating Minister of
Economic Affairs Darmin Nasution in Singapore, said the MTI press release.
They also reached consensus to expedite talks on the review of an
Avoidance of Double Taxation Agreement.
Moreover, the ministers signed a report outlining the key economic
initiatives that Singapore and Indonesia have been engaging on and the
intended efforts, which will be submitted to the leaders of the two countries
ahead of their meeting in October.
The ministers agreed to deepen bilateral collaboration in industrial
parks, namely Kendal Industrial Park and Nongsa Digital Park; the tourism
sector; the digital economy; and on training and capacity building.
Singapore and Indonesia enjoy strong economic relations. Indonesia was
Singapore’s sixth largest trading partner, while Singapore was Indonesia’s
third largest trading partner.
BSS/XINHUA/HR/1230