Aussie urged to invest more

Aussie urged to invest more

JAKARTA (JP): State Minister of Investment Sanyoto Sastrowardoyo told the Australia-Indonesia Business Council yesterday to find ways to resolve problems in trade between the two countries to boost their economic relations.

"Dialogs and meetings like this one are very important to harmonize our perception in trade to face challenges in the 21st century," Sanyoto said when opening the 22nd Indonesian- Australian Joint Business Conference in Semarang, Central Java.

To forge a closer economic ties between the two countries, Sanyoto invited Australian business people to invest more in Indonesia, especially in the eastern parts of the country.

Australia's total investment in Indonesia as of Dec. 31, 1994 was US$2.01 billion, placing it ninth among foreign investors in Indonesia.

Indonesian Ambassador to Australia Sabam Siagian suggested that Indonesia strongly promote its exports to Australia because Indonesia suffers from a deficit in its trade with Australia.

"The trade between the two countries is not yet balanced, so we need to propel further our exports," Sabam was quoted by Antara as saying.

Indonesia's non-oil exports to Australia grew by 17.25 percent to US$465.7 million last year from the previous year, while its non-oil imports from Australia increased by 12.85 percent to $1.36 billion.

Meanwhile, visiting Australian Minister of Trade Senator Bob McMullan expressed hope that Indonesia would pursue further economic and political liberalization in the coming years.

"We hope that the years ahead will see a growing climate of economic and political liberalization in this country," McMullan said. "We believe that such an atmosphere is vital to Indonesia's future efforts to develop its rich human resources." (rid)