Malaysia, Indonesia expect trade volume to reach $30bn by 2015

Trade between Malaysia and Indonesia is expected to hit the targeted US$30 billion (about RM98 billion) by 2015 amid the healthy and dynamic ties existing between the two countries, Indonesian Ambassador to Malaysia Herman Prayitno said. Prayitno said that although the world economy has not fully recovered, both countries are expected to meet the target of US$30 billion in trade volume by 2015, according to Malaysia's (Bernama) News Agency. As for trade volume this year, the envoy said that it would be higher than that recorded in the previous year. We are confident our bilateral trade this year will be higher than that of 2012 which reached more than US$20 billion, the Indonesian Ambassador said. Herman said Malaysia was the second biggest Asean investor in Indonesia with a majority of its investments in the telecommunication, banking, plantation, hotel, restaurant and oil and gas sectors.