Indonesia, China reach $17 billion cooperation deals

2012-03-24 19:22:44 GMT+7 (ICT)

BEIJING, China (BNO NEWS) -- The governments of Indonesia and China on Friday reached a series of cooperation agreements estimated to be worth more than $17 billion, officials said on Saturday.

During Indonesian President Susilo Bambang Yudhoyono's official visit to China, which is scheduled to end later on Saturday, he has met with his Chinese counterpart Hu Jintao at the Great Hall of the People in Beijing, as well as with Premier Wen Jiabao and top legislator Wu Bangguo.

The agreements reached involve several sectors such as maritime cooperation, fighting drug trafficking, trade statistics, Chinese visitors to Indonesia and a joint oceanography and weather-research institute, the Jakarta Globe reported.

According to the Chinese Foreign Ministry, Hu told Yudhoyono that he wants to expand links with Indonesia in oil, gas, mining, electricity, space and renewable energy, as well as a greater bilateral cooperation on global affairs.

Indonesian and Chinese business leaders reportedly reached 15 memorandums of understanding, which could mount to some $17.4 billion in cooperation in seaports, roads, alternative energy, the motorcycle industry, mining, construction in strategic areas and steel industry, Yudhoyono said, who added that both countries are on track to reach $80 billion in bilateral trade by 2015.

A number of important companies participated in the summit, including China Huadian Corp., China National Offshore Oil, China Harbor Engineering and Indonesian state steel maker Krakatau Steel.

-- © BNO News All rights reserved 2012-03-24

China gives lip service to environmental husbandry, but the reality is; China is voracious for raw materials. Economics rule, while environment and human rights take a back seat. Indonesian big shots will be dazzled by the big amounts of money, but there can be some grim realities showing up later - particularly for the little people - who will get re-located without decent compensation, and those who will get poisoned (bad air, bad water), and workers compelled to work for slave wages. Those are the sorts of slime wakes that follows Chinese investment.

It can be particularly bad for Indonesian New Guinea - which is particularly vulnerable to exploitation. Also, its indigenous people have issues, but you can bet Chinese industrialists will scoff at them.