The governments of Indonesia and India agreed to step up trade and investment in the future as the countries have huge markets supported by potential economic growth.
The statement was made during the meeting of Indonesian President Susilo Bambang Yudhoyono and visiting Prime Minister of the Republic of India Manmohan Singh at the State Palace on Friday.
The two leaders planned to deepen bilateral ties into comprehensive economic cooperation agreement, President Yudhoyono said.
"...both India and Indonesia have a great potential and opportunity to develop in the future. One of the potentials is the economy, including the domestic markets that are going to strengthen in the future," Yudhoyono told a joint press conference after the meeting, adding they agreed to boost trade and investment of the two countries.
Indonesia and India expected to reach 25 billion U.S. dollar bilateral trade volume by 2015.
President Yudhoyono also said that they agreed to step up cooperation on food security, anti-terrorism, agriculture, energy, disaster management and mitigation, transportation, tourism, health, education, combating illegal drug distribution and transnational crimes, launch of satellite and information technology.
"President Yudhoyono and I have agreed to deepen our partnership ...," said Prime Minister Manmohan Singh. "Indonesia is one of India most valued partners.. our bilateral relation are rich and potential, and growing rapidly, as two large democracy and major economies," he said.
After the meeting both sides signed memorandums of understanding on health cooperation, combating corruption, combating illicit trafficking in narcotic drug, and disaster management.