In an effort to strengthen bilateral economic cooperation next year Indonesia and India with free trade agreements signed the guarantee plan for investment, the country's ambassador said Thursday.

"We guarantee an investment agreement by 2009 (IgA) are expected to sign with the pros and India Free Trade Area (FTA), poor thing," Indonesian Ambassador to India Andi Ghalib M. said during an interactive session by Indian Chamber of Commerce (ICC) held by.

"Indonesia is working hard to implement free trade agreements and bilateral negotiations on the matter is still ongoing," he said.

Indonesian embassy officials, the two countries to explain the mutual benefit of the FTA feasibility reports are prepared.

"We have almost completed the feasibility study on the issue, India is preparing its report .. we share this information in the first half of 2009 are expected," Indonesian embassy counselor in New Delhi automatic berth Riadi told IANS program.

Indonesia is currently in India, Southeast Asia's third largest bilateral trade value of 6.55 billion dollars with the business partner only (13 billion), Singapore and Malaysia (8 billion) trailing.

Bilateral trade between India and Indonesia last year, an increase of 6.55 billion in 2003, a considerable jump from $ 2.4 billion. In the first quarter of 2008, business was worth $ 2.34 billion, 1.34 billion year on year increase of 74.61 percent.

Bearing in mind economic cooperation by 2010 the two countries also plan to set up $ 10 billion in bilateral trade.

"We now have preferred areas where a free trade agreement between India and Indonesia may be possible. We now apply the tariff free trade agreement will be imposed on products after negotiations can work, "said Riad.

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