Jakarta, (Antarariau.com) -- The finance ministries of Indonesia and Belarus have strengthened economic cooperation, which will include the exchange of views and experiences related to the budget sector, tax and fiscal policies.
The agreement between the two countries was marked by the signing of a memorandum of understanding (MoU) by Indonesian Finance Minister Bambang Brodjonegoro and Ambassador of Belarus to Indonesia Vladimir Lopato-Zagorsky here on Monday.
"Indonesia and Belarus also agreed to strengthen cooperation in the regulation of taxation and international bond issuance," Brodjonegoro said here on Monday.
The agreement was related to legislation, duty-free areas, and international organizations.
The initiative of the signing of an MoU and the development of cooperation stemmed from a state visit made by President of Belarus Alexander Lukashenko in March 2013. His state visit was followed by negotiations over the draft of the agreement.
Moreover, Brodjonegoro stated that the cooperation was aimed at tackling various challenges and external risks.
Therefore, the exchange of views and experiences is expected to result in relevant economic policies to resolve problems and produce in-depth analyses.
Furthermore, this cooperation can lead to the implementation of a dialogue between officials of relevant ministries regarding the handling of tax issues and debt management.
The Indonesian minister pointed out that Indonesia was strengthening its tax system to make it more efficient, and that administrative tax was being managed by professionals, which was appropriate for international governance.
"We are ready to exchange experiences to develop the taxation system. At the same time, we want to learn about the tax system in Belarus," he remarked.
Indonesia, Belarus Strengthen Fiscal Cooperation
