BEIJING, May 8 (Xinhua) — The pledge by China and Indonesia to forge greater synergy between their development strategies is expected to take practical cooperation between the two countries to a new high.
The consensus was reached during Chinese Premier Li Keqiang’s official visit to Indonesia that started Sunday.
The two countries agreed to sign an MOU on cooperation between the Belt and Road Initiative (BRI) and the Global Maritime Fulcrum as soon as possible, and identify a number of projects in this area, as said in a speech delivered by Premier Li at the China-Indonesia Business Summit Monday.
The coordination of maritime development strategies is a key opportunity for cooperation between the two sides.
Infrastructure is a focus of the 21st Century Maritime Silk Road, proposed in 2013 as part of the BRI. It is also a key component in the vision of a Global Maritime Fulcrum.
“China has abundant experience, funds and technology for infrastructure construction needed by Indonesia, which lacks infrastructure such as ports, bridges and roads,” said Xu Liping, a research fellow with the National Institute of International Strategy at the Chinese Academy of Social Sciences.
One landmark project is the Jakarta-Bandung high-speed railway. As the first high-speed railway in Indonesia and Southeast Asia, it will shorten travel time between the two cities to about 40 minutes from over three hours, and boost the local economy and employment.
China is a major source of foreign direct investment (FDI) in Indonesia. Chinese FDI rose more than 30 percent in 2017, and the investment stock exceeded 10 billion U.S. dollars.
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8 May 2018