India, Indonesia to hold talks

New Delhi, July 24 (IANS) India and Indonesia, founders of the Non-Aligned Movement and two of the world's fastest growing economies, will hold talks later this week to accelerate economic ties and map the future trajectory of their relationship.

External Affairs Minister S.M. Krishna will hold talks with his Indonesian counterpart Marty M. Natalegawa Friday.

"Both sides will take stock of the developments in our bilateral relationship and identify areas for future cooperation between our two countries," the external affairs ministry said here ahead of the talks.

Natalegawa will also address the Indian Council of World Affairs Friday on Indonesia's views of the shifting world order.

Bilateral trade has touched $20 billion and Indian investments in Indonesia are steadily rising.

Indonesia is an important member of the 10-nation ASEAN and a partner in India's "Look East Policy", the ministry said.

The two countries enjoy multi-faceted cooperation in trade and investment, energy, agriculture, science and technology, space, coal, oil and gas, defence and other areas.

New Delhi will be hosting the first-ever India-ASEAN summit in December this year.