India, Indonesia trade ties could reach $45 bn by 2015

Trade volume in 2011 was about $14 bn

Trade ties between Indonesia and India are growing at a steady pace and could reach $45 billion mark by 2015, Indonesian Ambassador Andi M Ghalib said today.

"I hope that the volume of business between the two countries would reach $45 billion by 2015," the Ambassador who had come here for an event told mediapersons.

The volume of trade between the two countries last year was about $14 billion.

Ghalib said an indication of the warm ties between the two countries came when the Indonesian President was invited to be the chief guest at the Republic Day parade two years back.

He said a lot of work has been done to encourage Hinduism in his country and pointed out that Indonesia's national airlines is known as Garuda Airlines.

The Ambassador said more than 30 memorandum of understandings (MoUs) has been signed between India and Indonesia against only five to seven MoUs signed by other countries.

He said the economic growth rate of both India and Indonesia is almost similar.