India and Indonesia inked avoidance of double taxation agreement in New Delhi on 27 July 2012. The agreement was signed by Indian External Affairs Minister S M Krishna and his Indonesian counterpart Marty M Natalegawa. the backdrop of increasing Chinese influence in the region.
Under the avoidance of double taxation agreement the two countries would cooperate with each other on taxation and other financial matters.
External Affairs Minister S M Krishna and his Indonesian counterpart Marty M Natalegawa co-chaired the fourth meeting of the India-Indonesia Joint Commission and identified specific areas in which both countries would be working together to take the relationship to the next high level. The two leaders also discussed strategic bilateral and regional issues, including South China Sea during the meeting.
Indonesia is an important strategic partner of India. The trade between the two countries has expanded rapidly and has now touched 20 billion dollar. Both the governments are presently working to achieve the target of 25 billion dollar set for 2015.
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