Work is in progress to host the Saudi-Indonesian Joint Economic Commission meeting in Riyadh.
“The meeting has to be held next year, possibly early in 2005,” Indonesian Minister of Industry and Trade Rini M. Sumarno Soewandi told Arab News. The last meeting of the Joint Commission was held in Jakarta two years ago.
Reviewing her three-day tour of Riyadh and Jeddah, the Minister said that its purpose had been served. “I came with a delegation of 35 businessmen, five of whom are women, and all of whom return to Indonesia fully satisfied with the vast potential prevalent in the Kingdom for trade and investment. Meetings between Indonesian and Saudi business people explored prospects for Saudi investment in various sectors in Indonesia,” said Soewandi, who was accompanied by Muhammad M. Basyuni, Ambassador to Saudi Arabia and Oman, and Consul General Tajuddien Noor.
During her meetings at the Chambers of Commerce in Riyadh and Jeddah, Soewandi invited the business community to visit her country, particularly during the forthcoming export exhibition in Jakarta.
The visiting Indonesian trade mission discussed with local businessmen the prospects of setting up joint ventures in the textile and clothing sector. “Such ventures can act as a hub for exporting textiles and garments to many countries,” she said.
Another purpose of the mission was to avail of the Kingdom’s policy of privatisation. Indonesia has a vast reservoir of expertise in technologies and specialists, which is targeting a greater share of the local market.
The Islamic Development Bank, with which Soewandi held a meeting on Tuesday, has granted $200,000 to conduct a study on the conversion of the country’s plant for aircraft manufacture. ŁThe plant has been manufacturing propeller-driven aircraft. IDB assistance is intended to convert the plant into one that manufactures jets,” she said, adding that she had also urged the IDB to consider funding for the expansion of existing plants in Indonesia that manufacture components for Boeing and Airbus aircraft. “Overseas demand for such components is increasing and we have approached the IDB to advance $50 million for this,” she said. The IDB has decided to send a team to Indonesia to study the project. Over the past twenty years, the IDB has granted $1 billion to Indonesia for infrastructure development, including development of electricity, water and hospitals.
Source: SPA
