PASIR GUDANG: Indonesia has the potential to become Malaysia's fourth or even third biggest trading partner within the next four to five years.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said Malaysia is confident of strengthening its trading ties with the republic through increasing investment bilaterally.
At present, he said Indonesia is Malaysia's sixth biggest trading partner.
"We will continue to invite Indonesians to invest in a wide range of sectors in our country. Iskandar Malaysia is one of the locations," he told reporters after the launch of Musim Mastika Oils & Fats (M) Sdn Bhd Palm Oil Facility at Tanjung Langsat complex here today.
The trading volume between the two countries were RM61 billion last year, an increase of 2.1 per cent as compared with 2012.
"I believe Indonesia’s investment in Malaysia will further increase after the setting up of the Asean Economic Community by the year 2015," he said.