Asmindo sets up foundation

YOGYAKARTA (JP): The local branch of the Indonesian Association of Furniture and Handicraft Industry (Asmindo) announced on Thursday the establishment of a foundation to help promote furniture and handicraft industries in the city.

The chairman of the Asmindo Yogyakarta Foundation Supriyanto said at least 70 furniture and handicraft manufacturers in the area were currently involved in the foundation's activities.

He said furniture and handicrafts were among the major export commodities from Yogyakarta.

Export value from the two products reached US$1.1 billion last year, up from $560 billion in 1996 and $900 billion in 1997, he said, expecting the figure to further increase this year in line with the strengthening of the US dollar against the rupiah. (swa/cst)