Private sector's absence from G-15 expo lamented<\/p>\n
By Meidyatama Suryodiningrat<\/p>\n
BUENOS AIRES (JP): Minister of Foreign Affairs Ali Alatas
\nlamented yesterday the absence of the Indonesian private sector
\nin the business expo and forum being held here in conjunction
\nwith the fifth summit of the group of 15 (G-15) developing
\nnations.<\/p>\n
\"I regret the fact that for one reason or another our
\nbusinesses did not attend the forum,\" Alatas said.<\/p>\n
Some 500 executives from G-15 member states attended the two-
\nday business forum held at the Palais de Glace exhibition center
\nhere.<\/p>\n
Only one Indonesian businessman attended the business meeting.<\/p>\n
The absence of the Indonesian private sector is seen as a
\nmissed chance not only to bolster the nominal trade between
\nIndonesia and Argentina, but also to implement the often sounded
\nneed for stronger cooperation among developing countries in the
\nSouth.<\/p>\n
\"There have been 441 meetings and contracts occurring during
\nthe business forum, which was unfortunately not participated in
\nby Indonesia,\" Alatas remarked.<\/p>\n
The presence of just a single Indonesian businessman among the
\n500 participants revealed a weakness in the government's efforts
\nto promote cooperation among developing countries through trade
\nand investment.<\/p>\n
The G-15 was established in 1989 as a forum for heads of state
\nand government to discuss the global economic situation, forge
\nSouth-South cooperation and rejuvenate dialog between the South
\nand industrial nations of the North.<\/p>\n
The group is comprised of Algeria, Argentina, Brazil, Chile,
\nEgypt, India, Indonesia, Jamaica, Malaysia, Mexico, Nigeria,
\nPeru, Senegal, Venezuela and Zimbabwe.<\/p>\n
Malaysian business representatives were heavily active at the
\nbusiness forum, with, according to Indonesian Ambassador to
\nArgentina Aswin Darwis, 25 percent of the contracts and meetings
\nhere involving them.<\/p>\n
Earlier Alatas and his Argentinean counterpart Guido Di Tella
\nsigned an investment guarantee agreement to boost investment
\ncooperation between the two countries.<\/p>\n
Alatas told reporters that the Indonesian agreement will not
\nonly promote trade links but also, more specifically, investment.<\/p>\n
Joint ventures<\/p>\n
\"What we hope for now is not just an increase in trade but
\nalso the establishment of joint ventures,\" he said.<\/p>\n
According to official statistics, thus far there has been no
\ninvestment cooperation between the two countries, while
\nArgentina's exports to Indonesia last year stood at US$45.2
\nmillion and its imports from Indonesia at $110 million.<\/p>\n
\"This really means nothing to Argentina and Indonesia,\" Alatas
\nsaid, commenting on the volume of trade. \"We should increase the
\ntrade to at least half a billion dollars,\" he added.<\/p>\n
Footwear makes up much of the Indonesian goods exported here,
\nwhile wheat, leather, pulp and oil seeds are exported by
\nArgentina to Indonesia.<\/p>\n
\"We still don't know our individual potential,\" Alatas said of
\nthe nominal trade.<\/p>\n
With little hindrance in the terms of tariff and non-tariff
\nbarriers, the lack of direct sea and air links between the two
\ncountries may be one of the main problems facing the private
\nsector.<\/p>\n
Combined with the geographic distance separating the two
\ncountries, high transportation costs are also hindering private
\nsector businesses from focusing more on this area of the world.<\/p>",
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