Bali to host meeting of CFC council

JAKARTA (JP): The governing council of the Common Fund for Commodities (CFC), a United Nations' finance institution for commodities, will hold their annual meeting in Nusa Dua, Bali next week.

Director General of Foreign Economic Relations Soemadi DM Brotodiningrat said that the three-day assembly, which would open Sunday, would discuss commodity projects to be financed by the CFC.

The meeting would study ways to increase CFC's function and role in the future and develop its action plans for the next five years, he said.

"The assembly also will aim to reevaluate CFC's projects and to discuss its upcoming projects," Soemadi said.

Soemadi, who was appointed as head of the governing council for the 1997 period at last year's assembly in Marrakesh, Morocco, said that this year's assembly was scheduled to be opened by Minister of Agriculture Sjarifudin Baharsjah.

CFC, established in 1989, is designed to assist the United Nations Conference on Trade and Development (UNCTAD) in implementing its integrated program for commodities.

CFC currently has 105 members, including 20 from Europe, and concentrates its activities in helping developing countries to promote their commodities.

The assembly will also feature a one-day seminar on "Commodity Development and Market Expansion", and an exhibition on Indonesian commodities, which will be attended by various commodity associations, state-owned companies and private companies. (gis)