Algeria suggests textile joint-venture

Algeria suggests textile joint-venture

JAKARTA (JP): Algeria has invited Indonesia to enter its
textile market in the form of joint venture company to be
established in Algeria.

After meeting with President Soeharto, Algerian Foreign
Minister Mohammed Salah Dembri and Minister of Small and Medium
Industries Redha Hammiani said that publicly-listed Texmaco will
form a joint venture company with Algerian partners to produce
synthetic fiber.

Dembri said the joint-venture company will produce for the
Algerian market. "And if the outcome is good, we will possibly
sell part of the production to Europe and Africa."

However, Dembri did not elaborate on the value of the venture,
saying only: "This is a big project."

He said the venture agreement will improve the two-way trade
between Indonesia and Algeria, which accounts for only US$200
million annually -- compared to Algeria's total annual trading
volume of US$12 billion.

Major Indonesian commodities exported to Algeria include wood
products, textile and coffee, while Algerian exports to Indonesia
include hydrocarbon and other oil-related products.

President Soeharto also received a courtesy call yesterday
from Madagascar Foreign Minister Jaques Lylla, who was also
seeking better trade cooperation with Indonesia.

Lylla and Dembri were in Indonesia to attend the commemoration
of the 40th anniversary of the Asia-Africa Conference and the
three-day ministerial meeting of the Non-Aligned Movement held in
Bandung, West Java, last week. (rid)