Indonesia invites Turkish investment

JAKARTA

 Indonesia's coordinating minister for the economy has invited Turkish businesses to invest in his country, particularly in the sectors of energy and infrastructure, according to a statement released Monday.

Two days after the countries met in Jakarta for a business forum, Turkey's foreign economic relations board said that Sofyan Djalil had used the occasion to underline that with a population of 250 million and as the largest economic actor in Southeast Asia Indonesia is a market waiting to be discovered.

It said that he had highlighted Indonesia's need for development in energy and infrastructure, and said his country needs to invest in 10 million kilowatts of electricity to meet demand.

The return on investments in geothermal energy would be quick and profitability higher given the geographical location of the country, Djalil said.

The statement added that had called for "Regional Common Commissions" be established to boost and encourage investments between the two countries. 

The comments follow a three-day trip to Jakarta by a Turkish contingent led by President Recep Tayyip Erdogan, during which Erdogan said he wanted Turkey to join Indonesia as a member of the Association of Southeast Asian Nations (ASEAN).

"The Asia Pacific region is increasingly important in the world economy, and we want to boost cooperation. We also would like to be a member of the ASEAN," he said.

He invited President Joko Widodo to the Nov. 15-16 G20 Leaders Summit in Turkey, and highlighted the importance of MIKTA, (Mexico, Indonesia, South Korea, Turkey, and Australia) and continuing negotiations.

"Turkish and Indonesian businessmen should visit each other's countries to discuss investment opportunities, as well as go together to third countries," Erdogan said.

On Saturday, 400 businessmen from the two countries participated in a the forum, during which the statement said that Turkey's minister for economics, Nihat Zeybekci, had said that economic relations between the two were yet to show their potential.

He added that to reach a common goal of being one of the world's top 10 economies by 2020, trade partnerships and investment activities needed to be increased with a focus on trading goods with added value to balance exports and imports. 

According to Turkey's ministry of economics, exports from Turkey to Indonesia totaled $288 million in 2014, while $2 billion in goods travelled in the other direction.

*Anadolu Agency correspondent Satuk Bugra Kutlugun contributed to this story from Ankara