KUALA LUMPUR (Feb 6): Malaysia is confident that bilateral trade with Indonesia remains positive despite the volatile economic landscape, Prime Minister Datuk Seri Najib Razak said in a Bernama report.

He said although the trade target of US$30 billion between Malaysia and Indonesia set earlier might not be achieved, the country's second priority is certain, that is to continue to promote trade and investment growth.

"At present, our statistics show Malaysia's investments in Indonesia stood at US$3.97 billion between 2008 and September 2014, while that of Indonesia's in Malaysia were US$1.89 billion," he told a press conference after meeting Indonesian President Joko Widodo at the Perdana Putra Complex here today.

During the meeting, Najib said he had told his Indonesian counterpart that Malaysia welcomes investors from Indonesia. Likewise, Widodo had also expressed welcome to Malaysian companies to invest in the republic and that they would be given priority.

"He (Widodo) also explained the opportunities available and Indonesia's priorities," Bernama quoted Najib as saying.

The prime minister also said Proton Holdings Bhd will be signing a memorandum understanding with an Indonesian business partner on the Asean car project later this afternoon.

"President Widodo shared his views on this and showed keen interest to make this project a success," Najib said.

Meanwhile, Widodo, fondly known as Jokowi, said Indonesia is inviting Malaysian companies to invest in the development of infrastructure such as ports, railways, airports and energy plants.

"We are providing the widest opportunity to investors from Malaysia," he said in the report.

Widodo added that he had discussed with Najib on the lifting of fuel subsidies by Indonesia and and the setting up of a national office to provide better services to foreign investors in Indonesia.

Malaysia is one of the biggest trading partners of Indonesia, with bilateral trade of between RM24 billion and RM25 billion.

Up to November 2014, bilateral trade reached US$19 billion, while Malaysia's investments in Indonesia touched close to US$1 billion. Malaysians mostly invest in the oil palm, banking, mining, telecommunications and health sectors in Indonesia.