Jakarta MINA– President Joko Widodo (Jokowi) will leave the country on Monday for a two-day state visit to South Korea in return for the visit here of President Moon Jae-in last year.Jokowi is expected to discuss with the Korean leaders expansion of economic cooperation between the two countries especially in investment in the manufacturing sector, Antara News reported, citing Industry Minister Airlangga Hartarto here on Saturday.Airlangga said the two countries already have agreement to provide an umbrella for bilateral cooperation to speed up development of industries potential in each country.Commitment in bilateral cooperation was marked with the signing in Bogor of memorandum of understanding (MoU) by the Indonesian Minister and Korean Trade, Industry and Energy Minister Paik Un-gyu in front the presidents of the two countries on November 9 last year.The MoU was on industry, investment and transfer of technology, which was expected to contribute to the economic development of the two countries, Airlangga, who will accompany the president in the visit, said.
He said strategic partnership between Indonesia and South Korea would accelerate development of Indonesia`s manufacturing industry and increase the competitiveness of the industry.
Among the potential industries to be included in the cooperation program are metal, automotive, chemical, shipbuilding , electronics and small and medium industries, he said.
He went on to say part of the manufacturing sector are priorities in the road map of Making Indonesia 4.0, which will be the pioneer in the implementation the fourth industrial revolution in Indonesia.
He said he hopes cooperation between the private sector of the two countries would deepen Indonesia`s manufacturing industry.
The minister said he had actively pushed for the implementation of investment commitments by Korean companies in Indonesia.
He cited Lotte Chemical Titan plans to invest US$3.5 billion in Cilegon, Banten, to produce naphtha cracker with a total capacity of 2 million tons a year.
Naphtha is needed as a feedstock in the production of ethylene, propylene and other derivatives to end dependence on import for the basic material, he said. T/RS5/RS1)