Jakarta (ANTARA News) - Indonesia and New Zealand have agreed to increase their economic relations, which are still considered quite low.

Indonesia`s President Susilo Bambang Yudhoyono, in a joint press conference with visiting New Zealand Prime Minister John Key, said here on Tuesday that the total trade between the two countries only reached US$1.1 billion and that the investments were "modest and relatively small".

In view of that, he said the two countries` heads of government had agreed to significantly increase relations.

President Yudhoyono said New Zealand is known as one of the main producers of farm products such as milk, cheese, and meat.

These products are part of the needs of the Indonesian people, which keep rising with the growth of the middle class. In view of that, he noted, the food business had been growing and had become very important.

Meanwhile, Key said increasing the relations between Indonesia and New Zealand was in line with developments in the two countries. He added that Indonesia had made extraordinary achievements in the economic field in the past few years, which provided opportunities for the two countries to cooperate.

"We have seen big opportunities for cooperation that would benefit both countries," he said.

During the current visit, Key has been accompanied by trade minister Tim Groser and a trade delegation.

The two countries signed four memorandums of understanding during Key`s visit.

The documents, signed by ministers from the two countries and witnessed by the two heads of government, cover manpower, environment, agriculture, and geothermal energy. (*)

Editor: Heru Purwanto
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