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Indonesian President brings business delegation to UK

Indonesian President, Susilo Bambang Yudhoyono is on a state visit to the UK, highlighting the increasing political and economic significance of Indonesia.

President Yudhoyono brings with him a large business delegation, who represent the 18th largest economy in the world, which is projected to be one of the top 10 economies in 2020 according to the Foreign and Commonwealth Office.

The President will deliver the Wilton park annual address on “Indonesia’s role as a regional and global actor, and he will give a lecture at the Royal College of Defence Studies.Earlier this year, the Prime Minister and Mr Yudhoyono announced a commitment to double trade by 2015 to £4.4bn.

Rhian Chilcott, CBI International Director, said: “This visit demonstrates the importance of Indonesia’s relationship with the UK, and is a real opportunity to strengthen the commercial ties between our two countries.

“As we look to boost our export performance, it is vital that UK businesses look to new markets in fast-growing regions of the world, such as Indonesia, to help rebalance our economy and kick-start growth in the longer term.”

Total trade with the UK in 2011 was £2.4bn, and exports of goods and services to Indonesia were worth £0.97bn in the same year, an increase of 28% on the year before.

Speaking to Parliament yesterday the Foreign Secretary said: “As well as having one of the world’s most thriving economies, Indonesia is in the vanguard of the political change shaping Asia. This visit will be an opportunity for us to build on the strong partnership established over the last decade.

“In that time Indonesia’s path from dictatorship to democracy alongside growing prosperity has become an important example to the world. In particular President Yudhoyono’s leadership on climate change and other global issues has underscored the values that our two countries share.

“As it is a key voice in South East Asia I am determined to work with Indonesia and its neighbouring countries so that we continue to turn these shared values into shared action and realise the benefits of greater freedom, prosperity and security together.”

This was posted in Bdaily's Members' News section by Tom Keighley .