Australia expects $60m in contracts after exhibition

Australia expects $60m in contracts after exhibition

JAKARTA (JP): The Australian government expects direct
contracts totaling more than A$80 million (about US$60 million)
following the recent Australia Today Indonesia '94 promotion in
Jakarta, an official said.

The minister assisting the Prime Minister on trade and
economic development, David Hamill, said in a statement made
available yesterday that there are several major deals under
negotiation. These include possible contracts with cotton buyers,
consulting services in environmental management, capital markets,
engineering, marketing and fee-paying students in educational
institutions.

"The contracts are expected to be closed in the next three
years, but in the next 12 months we anticipate a minimum of A$20
million in new trade as a direct result of the recent trade
mission," Hamill said.

The trade and cultural mission, held from June to July, was
the largest promotion event ever undertaken in the region by
Australia, costing some A$12 million with nearly 300 Australian
companies taking part.

The promotion, commissioned by Australia's Department of
Foreign Affairs and Trade, was officially opened by Prime
Minister Paul Keating.

Hamill said he was optimistic that the trade mission would
also result in additional foreign investment in Queensland, where
Hamill has his base.

"Immediate results from the trade mission totaled A$7 million
in new contracts including a A$5-million cotton deal between a
Central Java buyer and Queensland Cotton," he said.

He added: "Indonesian businessmen could invest as much as
A$100 million in Queensland, including two projects totaling A$26
million, which are likely to commence this year."

According to Hamill, the projects are a A$20-million
technology distribution project for a large pharmaceutical
company and a A$6 million project for ecotourism development.
(09)