RI, Canada sign deals worth $2b<\/p>\n
JAKARTA (JP): Canadian Prime Minister Jean Chretien witnessed
\nhere yesterday the signing of 54 new business deals between
\nIndonesian and Canadian businesspeople worth C$2.76 billion
\n(US$2.02 billion).<\/p>\n
"This is a solid base to build on, and Team Canada has taken
\non that building job in earnest -- with the deals signed today,"
\nsaid the Canadian prime minister at a luncheon meeting hosted by
\nthe Indonesia-Canada Chamber of Commerce before the mass signing.<\/p>\n
The prime minister is heading a 300-strong delegation of
\nCanadian business people in a trade mission, called Team Canada,
\nthat has already taken him to India and Pakistan. He is leaving
\ntoday for a similar visit to Malaysia.<\/p>\n
He stated that the last few years saw trade between Indonesia
\nand Canada grow at a very rapid rate and that both countries have
\nbeen major forces for trade liberalization through the Asia
\nPacific Economic Cooperation (APEC) organization.<\/p>\n
"We want even more trade, investment and technological
\ncooperation with you, that will translate into jobs and
\nprosperity for the people of both of our countries," said the
\nCanadian prime minister, who was also accompanied by two federal
\nministers and six provincial premiers of his country.<\/p>\n
"Never before in the history of our country have we gathered
\nprovincial premiers and so many business leaders in one large
\ncommercial visit. And it worked beyond our greatest
\nexpectations," he said.<\/p>\n
Contracts<\/p>\n
The 54 new business deals include C$565.67 million worth of
\ncommercial contracts and C$2,195.89 million in agreements in
\nprinciple, including memoranda of understanding and letters of
\nintent.<\/p>\n
Among the 54 deals was a memorandum of understanding between
\nstate-owned PT Aneka Tambang in association with PT Iroda Mitra
\nCorporation of Indonesia and SNC Lavalin Inc. of Canada, to
\nundertake a feasibility study for the Pomalaa Hydroelectric power
\ngeneration plant in Sulawesi.<\/p>\n
In the environmental sector, PT Putra Alvita Pratama of
\nIndonesia signed a contract with Canora Asia Inc. of Canada to
\nestablish a joint venture to build, own and operate the water
\nsupply, waste water treatment and solid waste management system
\nfor a new city, Kota Legenda, in Bekasi, West Java.<\/p>\n
Yesterday's agreements brought the value of the business deals
\nsigned so far by Canada during Team Canada's trade mission to
\nC$8.2 billion.<\/p>\n
Besides the C$2.76 billion business deals, Asamera Overseas
\nLimited, a wholly owned subsidiary of Gulf Canada Resources of
\nCalgary, and Talisman Energy, signed an acknowledgment of its
\nmemorandum of understanding with the state-owned oil company
\nPertamina of Indonesia. It will result in new gas infrastructure
\ninvestment of C$800 million.<\/p>\n
Before the mass signings, the Canadian prime minister held
\ntalks with Indonesian President Soeharto.<\/p>\n
"The two leaders agreed on the need to further enhance
\nbilateral relations," said State Secretary Moerdiono.<\/p>\n
He quoted President Soeharto as saying that Indonesia still
\nneeds foreign aid but that increased economic cooperation,
\nespecially in trade, is now more important.<\/p>\n
"During the meeting, Chretien offered Canadian expertise and
\ninvestment in urban light train transportation and in the field
\nof telecommunications and nuclear power generation," said
\nMoerdiono after the two leaders' meeting.<\/p>\n
Soeharto said that Indonesia is planning to build a nuclear
\npower plant with a 1,800 megawatt capacity that would clearly
\nneed foreign investment. "But this will be a last resort to meet
\nour growing electricity needs," he noted.<\/p>\n
Indonesia is already Canada's largest export market in
\nSoutheast Asia. Their two-way trade was estimated to exceed C$1.1
\nbillion last year, with Canada's exports to Indonesia worth C$475
\nmillion and its imports C$522 million.<\/p>\n
Until last year, Canada's cumulative direct investment in
\nIndonesia, Canada's largest in Southeast Asia, was valued at
\naround C$6 billion.<\/p>\n
"There are now about 100 Canadian companies and 23 joint
\nventures operating in Indonesia. Many more are thinking about
\nsetting up shop here in the months ahead," said Chretien. (13)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ri-canada-sign-deals-worth-2b-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}