Indonesia, Singapore Ink Deals On Shipping Lane Security, Taxation

JAKARTA, Indonesia and Singapore inked memorandums of understanding, in an effort to beef up security in the international shipping lane, along the borders of the nations, avoid double taxation and extend repurchase agreement between the central banks.

Indonesian President, Joko Widodo, on Tuesday, welcomed his Singaporean counterpart, Halimah Yacob, at the presidential palace, on the outskirts of the Indonesian capital, Jakarta.

Widodo said, the Indonesian taxation office and the Singaporean police guard, have completed negotiations and signed an MoU of law enforcement on customs.

Under the agreement reached a day earlier, both nations will step up supervision, in the international shipping lane, in a bid to prevent international crimes, smuggling and illegal trade, according to the Indonesian office.

Another agreement on prevention of double taxation was signed on Tuesday, said Widodo.

I am very satisfied with the progress of our cooperation, including that on the completion of negotiations on prevention of double taxation, he said at the palace.� NNN-ANTARA

Source: NAM News Network