Saudi-Indonesian talks seek to boost trade and cooperation between the two countries. Indonesia offered its expertise in construction services to the Kingdom of Saudi Arabia, Arab News reported today.
“We are aware that Saudi Arabia needs expertise from abroad in this area, specifically for the construction and maintenance of factories, underground storage tanks, pipelines, roads, bridges, dams, and telephone and power lines. Indonesian and Saudi businessmen and women can work together in this field,” said Indonesian Minister of Industry and Trade Rini M. Sumarno Soewandi.
Soewandi, who is leading a 54-member delegation to the Kingdom, was addressing a seminar on trade and investment opportunities between Saudi Arabia and Indonesia in Jeddah yesterday. The Indonesian delegation comprises 20 government officials, and 34 business people, of which 15 are women.
The Minister said that last year bilateral trade between Indonesia and Saudi Arabia reached a value of $1.9 billion. Indonesia’s exports to the Kingdom amounted to $400 million; its imports from the Kingdom reached a value of $1.5 billion. “We currently export over 150 different products to Saudi Arabia, from plywood, clothing, textiles, paperboard, radio broadcast receivers, home appliances, and electrical machinery,” she said.
Imports from Saudi Arabia to Indonesia include oil - which comprises 87.5% of imports, chemical products, phenols, hydrocarbon, printed matter, polymers of ethylene, and industrial alcohol.
Since 1993, Indonesia has had a trade deficit with Saudi Arabia; in 1999 the deficit reached $574 million and last year it was $1 billion.
“We need to work very closely with our Saudi counterparts to increase bilateral trade, especially import/export in non-oil products. Indonesia and Saudi Arabia can further enhance business and investment relations,” Soewandi said.
The Minister invited Saudi business people to visit the 19th National Merchandize and Commodity Show (Resource Indonesia 2004) in Jakarta from 13 -17 October. “The annual event is Indonesia’s most significant Indonesian export exhibition,” she said.
Source: SPA
