INDONESIA AND CHINA AGREE TO BOOST FINANCIAL-ECONOMIC COOPERATION

Antalya, Turkey, 4 Shafar 1437/16 November 2015 (MINA) – President Joko Widodo said Indonesia and China had agreed to boost cooperation in economic and financial sectors, including liquidity support from China.

President Joko Widodo told this after a bilateral meeting between the Indonesian president and Chinese President Xi Jin Ping on the sidelines of the G20 Summit.

Many were discussed in the meeting, among others issues discussed in the previous meeting on liquidity support from China,” the president Jokowi said at Hotel IC Santai, Antalya, Turkey, Sunday night.

According to the Indonesian President, the two countries also agreed on improving the investment that eventually will provide an additional capital entry. They also discussed a number of issues of concern to the global financial summit of the G-20 this time.

Indonesia welcomed the commitment of the Chinese government to assist the Indonesian financial sector through funding for Indonesian banks and liquidity support, President Jokowi said.

President Xi expressed readiness the Chinese government to increase Bilateral Currency Swap Arrangement that was given to Indonesia to around 20 billion dollars to provide Indonesia with liquidity in times of crisis. .

On that occasion the President Jokowi also requested the support of the President Xi that Indonesian competent officials should be recruited for the top management of the Asian Infrastructure Investment Bank (AIIB) as well as Indonesia’s desire to make Jakarta as the first AIIB regional office

On global problems, President Jokowi convey Indonesia’s plan to push for reform of global financial architecture in the G20, as it has been conveyed to the Asian-African Conference last.

These reforms are needed immediately to create a balance in the international financial system between the developed and the developing countries, Jokowi said. (T/R07/R01)

Mi’raj Islamic News Agency (MINA)