Chinese Premier Wen Jiabao (L) meets with Indonesian President Susilo Bambang Yudhoyono in Jakarta, Indonesia, April 29, 2011. [Zhang Duo/Xinhua]

Indonesia, Southeast Asia's largest economy, secured US$10 billion worth of business contracts with China after Chinese Premier Wen Jiabao and Indonesian President Susilo Bambang Yudhoyono held a meeting in Jakarta on Friday, China Daily reported.

The offers were reportedly to include a US$1 billion preferential buyer's credit, which is the largest Beijing has ever given to a foreign country, as well as US$8 billion worth of financing contracts for investors in Indonesia's infrastructure projects and major industries.

Wen’s visit is the first official visit of a Chinese premier to Indonesia in a decade. He arrived in Jakarta late Thursday and left for Beijing on Saturday afternoon.

During the meeting, the two sides agreed to establish a regular meeting mechanism between the leaders of the two countries and a strategic dialogue on the vice-prime minister level.

In the field of maritime cooperation, the two countries will set up a committee on the issue. China will provide 1 billion yuan to start a fund for the program for tangible cooperation ranging from maritime security and research to resources exploitation and disaster prevention.

China has no territorial disputes with Indonesia in the South China Sea, but the two sides still have maritime rights and interests to be settled.

The bilateral trade volume between China and Indonesia was US$42.7 billion in 2010, increasing 50.6 percent as compared with 2009.

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