Algeria suggests textile joint-venture<\/p>\n
JAKARTA (JP): Algeria has invited Indonesia to enter its
\ntextile market in the form of joint venture company to be
\nestablished in Algeria.<\/p>\n
After meeting with President Soeharto, Algerian Foreign
\nMinister Mohammed Salah Dembri and Minister of Small and Medium
\nIndustries Redha Hammiani said that publicly-listed Texmaco will
\nform a joint venture company with Algerian partners to produce
\nsynthetic fiber.<\/p>\n
Dembri said the joint-venture company will produce for the
\nAlgerian market. \"And if the outcome is good, we will possibly
\nsell part of the production to Europe and Africa.\"<\/p>\n
However, Dembri did not elaborate on the value of the venture,
\nsaying only: \"This is a big project.\"<\/p>\n
He said the venture agreement will improve the two-way trade
\nbetween Indonesia and Algeria, which accounts for only US$200
\nmillion annually -- compared to Algeria's total annual trading
\nvolume of US$12 billion.<\/p>\n
Major Indonesian commodities exported to Algeria include wood
\nproducts, textile and coffee, while Algerian exports to Indonesia
\ninclude hydrocarbon and other oil-related products.<\/p>\n
President Soeharto also received a courtesy call yesterday
\nfrom Madagascar Foreign Minister Jaques Lylla, who was also
\nseeking better trade cooperation with Indonesia.<\/p>\n
Lylla and Dembri were in Indonesia to attend the commemoration
\nof the 40th anniversary of the Asia-Africa Conference and the
\nthree-day ministerial meeting of the Non-Aligned Movement held in
\nBandung, West Java, last week. (rid)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/algeria-suggests-textile-joint-venture-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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