Taipei, May 10 (CNA) A joint feasibility study on a proposed economic cooperation agreement between Taiwan and Indonesia is expected to be completed by the end of 2012, a local think tank said Thursday.
The Taipei-based Chung-Hua Institution for Economic Research (CIER) said it signed an agreement with the Indonesian Institute of Sciences on Wednesday in Jakarta to mark the start of a second-phase collaborative research project.
The first joint study focused on bilateral relations and dynamics, and exploring opportunities, particularly in the fields of small and medium-sized enterprises, automobiles, electronics and agriculture, the Taiwan think tank said.
The findings showed that a bilateral trade pact can strengthen economic cooperation and boost overall integration between Indonesia and Taiwan, and thus both sides will share potential benefits, the CIER said.
With further economic collaboration, Taiwan and Indonesia would be able to enjoy mutual benefits, as the two countries are highly complementary to each other in terms of resources, said Tu Chaw-hsia, a research fellow at the CIER.
Taiwan has been working to negotiate economic agreements with its trade partners, including Singapore, India and New Zealand, as part of its efforts to broaden its international market.
(By James Lee and Lin Hui-chun)