INDONESIA - RUSIA TRADE FIGURE
The Jakarta Post -- 28 April 2006
Indonesia and Russia have pledged to increase the value of bilateral trade to US$1 billion, an increase of about 85 percent, from $550.9 million last year by exploring untapped business opportunities.
The commitment was made during a meeting between a Russian trade delegation and Indonesian trade officials in Jakarta on Thursday.
"Considering that there are still many potentialities we haven't yet tapped, we're optimistic we can achieve the target in the next two years," Herry Soetanto, the director general of international trading cooperation at the Trade Ministry, said at the meeting.
During the meeting, which was also attended by representatives of 25 enterprises from Russia, he said Indonesia's exports to Russia over the last five years had increased by an average of 57.87 percent a year.
Last year, Indonesia's exports to Russia reached $348.1 million, an increase of 57.9 percent from $220.48 million in 2004. Its exports included vegetable oils, machinery, electrical tools, coffee, tea, spices, tobacco, footwear and textiles.
Indonesia's imports from Russia -- mainly consisting of steel, fertilizer, paper, steel and finished iron products, finished metal products, and organic chemicals -- increased by an average of 70.20 percent during 2001-2005.
But last year, Indonesia's imports from Russia only increased by 39.8 percent to $202.8 million from $145.11 million in 2004.
Indonesian Ambassador to Russia, Susanto Pudjomartono, also expressed optimism that the target could be achieved, saying that Russia could increase its exports of heavy equipment, mining equipment, and oil and gas sector equipment.
Meanwhile, Indonesia could increase its exports of agricultural and forestry products, as well as various manufactured products.
To facilitate trade, the two sides have agreed to set up trading houses in Indonesia and Russia.
However, Herry admitted that the absence of a proper trade finance system could hamper the efforts to increase bilateral trade. The fact that Russia was not yet a member of the World Trade Organization (WTO) could also be a problem.
But Fedor N. Poselyanov, a member of the Russian delegation and a former consul general at the Russian Embassy in Jakarta from 1972 to 1998, said he was confident that all of the difficulties could be resolved in the near future.
Russia is currently pursuing negotiations with a number of countries, including the U.S., as part of its efforts to become a member of the WTO.
Indonesia and Russia have pledged to increase the value of bilateral trade to US$1 billion, an increase of about 85 percent, from $550.9 million last year by exploring untapped business opportunities.
The commitment was made during a meeting between a Russian trade delegation and Indonesian trade officials in Jakarta on Thursday.
"Considering that there are still many potentialities we haven't yet tapped, we're optimistic we can achieve the target in the next two years," Herry Soetanto, the director general of international trading cooperation at the Trade Ministry, said at the meeting.
During the meeting, which was also attended by representatives of 25 enterprises from Russia, he said Indonesia's exports to Russia over the last five years had increased by an average of 57.87 percent a year.
Last year, Indonesia's exports to Russia reached $348.1 million, an increase of 57.9 percent from $220.48 million in 2004. Its exports included vegetable oils, machinery, electrical tools, coffee, tea, spices, tobacco, footwear and textiles.
Indonesia's imports from Russia -- mainly consisting of steel, fertilizer, paper, steel and finished iron products, finished metal products, and organic chemicals -- increased by an average of 70.20 percent during 2001-2005.
But last year, Indonesia's imports from Russia only increased by 39.8 percent to $202.8 million from $145.11 million in 2004.
Indonesian Ambassador to Russia, Susanto Pudjomartono, also expressed optimism that the target could be achieved, saying that Russia could increase its exports of heavy equipment, mining equipment, and oil and gas sector equipment.
Meanwhile, Indonesia could increase its exports of agricultural and forestry products, as well as various manufactured products.
To facilitate trade, the two sides have agreed to set up trading houses in Indonesia and Russia.
However, Herry admitted that the absence of a proper trade finance system could hamper the efforts to increase bilateral trade. The fact that Russia was not yet a member of the World Trade Organization (WTO) could also be a problem.
But Fedor N. Poselyanov, a member of the Russian delegation and a former consul general at the Russian Embassy in Jakarta from 1972 to 1998, said he was confident that all of the difficulties could be resolved in the near future.
Russia is currently pursuing negotiations with a number of countries, including the U.S., as part of its efforts to become a member of the WTO.
posted by Zumrowi Yunus at
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