India, Indonesia launch economic dialogue

NEW DELHI, July 16 (KUNA) -- The India-Indonesia Economic and Financial Dialogue launched Sunday.

Indian Finance Ministry said in a statement that Minister Nirmala Sitharaman and her Indonesian counterpart Mulyani Indrawati announced the launch of the platform during the G20 Finance Ministers and Central Bank Governors meeting in Gujarat.
The platform "seeks to strengthen cooperation between the two nations and foster a shared understanding on global issues," the Indian minister said.
India's 'Look East Policy' launched in 1991 and the 'Act East Policy' helped rapid development of relations between India and Indonesia, especially in commercial and cultural fields.
"Indonesia has emerged as India's largest trading partner in the ASEAN region, with our trade seeing an eightfold increase since 2005, reaching an impressive USD 38 billion in FY 2022-23," Sitharaman said.
The Dialogue is expected to bring together economic policymakers and financial regulators to enhance collaboration on bilateral and international economic and financial matters. Bilateral investment relation, macroeconomic challenges, global economic prospects and cooperation in G20 and ASEAN matters are areas of cooperation between the two. (end) atk.hb.