Lanka-Indonesia trade to hit US $ 1b by 2015

Indonesia is an economic giant. Its GDP has hit one trillion US dollars, said Sri Lankan Ambassador to Indonesia, Maj. Gen. Nanda Mallawaarachchi.

"Obviously, the trade balance is tilting heavily towards Indonesia, but total trade stood as of last year at roughly $400 million.[When] the joint Commission on Bilateral Cooperation sat in Colombo, they came to an ambitious target of about 1 billion dollars to be achieved by 2015," Mallawaarachchi said.

"It is an ambitious figure. Both parties are optimistic that we can achieve this and hope for the best," he said.

The year marks an important milestone for Indonesia and Sri Lanka, the diplomatic ties of which began 60 years ago.

High level visits between the two countries' noted figures, including Sri Lankan President Mahinda Rajapaksa and Indonesia's Foreign Minister Marty Natalegawa, have indicated enhancing relations between both countries.President Rajapaksa participated in the fourth Bali Democracy Forum while Natalegawa made his first visit to Sri Lanka to lead a delegation for the first joint Commission on Bilateral Cooperation.

Natalegawa's Sri Lankan counterpart, External Affairs Minister Prof. G.L. Peiris noted that the meeting signified new strength and further bonding of the healthy relationship between Indonesia and Sri Lanka.

Both ministers agreed that their first joint commission meeting this year was a momentous occasion in bilateral ties.

The increasing interest in economic sustainability and development in the region is the main reason for improving ties between Indonesia and Sri Lanka, as both countries are upbeat about their ability to grow in the economic sphere.

Sri Lanka, then known as Ceylon, established bilateral relations with Indonesia four years after independence from Britain on February 4, 1948.