G20 summit: India, Indonesia set $50 billion target for bilateral trade by 2025
Prime Minister Narendra Modi met the leaders of Indonesia, Brazil, Australia and Turkey on the sidelines of the summit in Osaka.
India and Indonesia on Saturday decided to target bilateral trade worth $50 billion (Rs 3.45 lakh crore) by 2025, PTI reported. The target was set during a meeting between Prime Minister Narendra Modi and Indonesian President Joko Widodo on the sidelines of the G20 summit in the Japanese city of Osaka.
The two leaders discussed ways to expand cooperation in trade and investment, defence and maritime security. They also discussed ways to boost bilateral ties.
The trade between India and Indonesia was $12.9 billion in 2016, and rose to $18.1 billion the next year, data from Indonesia’s Central Statistics Agency showed.
Before meeting Widodo, Modi’s office tweeted: “Beginning Day 2 of the #G20 Summit by meeting a valued friend. PM @narendramodi holds talks with President @jokowi on ways to deepen India-Indonesia cooperation.”
Ministry of External Affairs spokesperson Raveesh Kumar tweeted that the meeting was productive.
Modi also met Brazilian President Jair Bolsonaro. The two leaders “held wide-ranging discussions on bilateral relationship, specially cooperation in trade and investment, agriculture and bio-fuels in the context of climate change,” Kumar tweeted.
Modi later met Australian Prime Minister Scott Morrison and Turkish President Recep Tayyip Erdogan as well and discussed bilateral matters. He had also met other leaders of BRICS, and United States President Donald Trump.