President Yudhoyono visiting Shanghai to seek business opportunities

Manila (Antara News) - President Susilo Bambang Yudhoyono said he would make a working visit to Shanghai, China, not only to enhance bilateral relations but also to identify opportunities for Indonesian businessmen to benefit from China`s economic resurgence.

"Our target and objective in visiting China is to find business opportunities so as to serve our national interest. We have to get something from China`s economic rise," Yudhoyono told newsmen Friday aboard the Boeing 737-400 presidential aircraft taking him to Shanghai.

As he was speaking, the plane was flying at an altitude of 33,000 feet over the Malaysian city of Kota Kinabalu toward Manila airport for a stop-over.

The President said his visit to China this time was to follow up on last year`s agreement with his Chinese counterpart, Hu Jin Tao, and Prime Minister Wen Jiabao on cooperation in various economic sectors.

"During my visit to China last year, there was a commitment to increase investment (in Indonesa) by about US$8 billion," Yudhoyono said.

He added that in Shanghai, cooperation deals worth some US$4 billion would be made with a number of energy companies in China in realization of last year`s commitment.

In addition, the president said, various cooperation deals in the fields of electricity infrastructure development, oil exploration, bio-fuel energy would also be discussed during the visit.

"All of this will be discussed to ensure that things will be implemented in a better way," Yudhoyono said, adding that in the Indonesia-China forum he would meet with Senior Deputy Prime Minister Huang Zu and hold "one-on-one" meetings with the chiefs the China National Offshore Oil Corporation (CNOOC), Petrochina, PT Sumber Gas Sakti Prima and PT Bayan Resources.

During his five-day stay in China, President Yudhoyono and his entourage would also visit the tourist city of Guilin and Nanning to attend the China-Asean Relations Commemorative Summit and meet Chinese Prime Minister Wen Jiabao. (*)
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