Senior cabinet ministers from both countries also signed bilateral agreements covering airspace and defence in a ceremony aired on Indonesia's State Secretariat YouTube channel.
"The extradition treaty will enhance cooperation and combating crime and send a clear, positive signal to investors," Prime Minister Lee said at the signing ceremony. The agreement would also mean that people would not be able to escape justice by changing their citizenship, it said. In 2007, Indonesian President Susilo Bambang Yudhoyono and Prime Minister Lee oversaw the signing of an extradition treaty and defence cooperation agreement, but it was never ratified by Indonesia's parliament.$8 billion of bailout funds given to bank owners and borrowers after the Asian financial crisis in the late 1990s that was never repaid.