``We remain committed, we think it is very important to get trade going in Indonesia,'' Lee Yock Suan told reporters after opening a meeting of ASEAN (Association of Southeast Asian Nations) heads of investment agencies here on Friday. Singapore had reiterated previously that its plans for a US$5 billion trade financing scheme for Indonesia remained on track. Of the amount, $3 billion would be used to guarantee export credit while another $2 billion would be used for exports through Singapore to Indonesia.

Last month, Indonesian minister Tanri Abeng told a Singapore newspaper relations were not moving in the right direction, citing the proposed trade financing plan which he said had been slow to take off. ``There is a need to really sit down and work out exactly what should be done by bothcountries so that the need can be facilitated by Singapore. And if there are problems, they should be discussed so that there is no misinterpretation -- of what Singapore can do and what Indonesia needs,'' Tanri said. Lee said there have been informal meetings between Indonesia and Singapore officials since the trade scheme had been announced in April this year.

``We are waiting for a response from Indonesia actually. We have set out in detail our terms and conditions to make sure the scheme will work. We don't want to have a scheme that fails so we have been very cautious. We are new to it,'' Lee said.

He said Singapore minister for information and the arts George Yeo and the Indonesian minister of investment affairs Hamzah Haz would visit the Indonesian islands of Bintan and Batam on Friday. Singapore companies have invested heavily in an industrial park and hotel and leisure facilities on the islands. ``I think that is a good symbol of our cooperation. It accounts for a big percentage of exports ofIndonesia's manufactured goods at present,'' Lee said. ``So it is a demonstration of the kind of cooperation we will have together.''

Earlier this month, Indonesia and Singapore signed a US$4.0 billion gas deal agreement for Singapore to buy natural gas from Natuna West Sea. Analysts said the deal, the first international pipeline sale from the Natuna West Sea, would pave the way for more purchases from the city state. Singapore's Red Cross Society had also begun airlifting food parcels to Indonesia this month.