Brazil to improve business ties with RI

JAKARTA (JP): Brazil expects to increase economic ties with Indonesia in line with the country's strategy to boost economic cooperation with Asian countries, the country's ambassador to Indonesia Jadiel Ferreira De Oliveira said yesterday.

"Cooperation with Indonesia can be in the form of anything that suits Indonesia -- investment, export and import, or technology transfer," De Oliveira said.

He said the two country's trade balance had been in favor of Brazil, and he expected Indonesian exports to Brazil would further increase to about US$300 million this year, up from about $234 million last year.

Brazil's exports to Indonesia reached about $410 million last year, including the cost of insurance and freight.

Major Indonesian export commodities to Brazil include copper ore and concentrate, sound recorders or reproducers, footwear, natural rubber or latex, fixed vegetable fats and oils, and textile yarn.

Brazil's exports to Indonesia include feed for animals, iron and steel, iron ore and concentrate, pulp and waste paper, sugar, molasses, honey, petroleum products and motor vehicle parts.

De Oliveira said Brazilian businesses also had their eye on Indonesia for investment. For example, the country expected to cooperate with the Salim Group to produce irrigation equipment.

"We also hope to produce natural rubber in Brazil using capital and technology from Indonesia," he said, adding that Brazil now imported about 100,000 tons of natural rubber from Indonesia.

As part of its trade mission in Asia, Brazil will hold a seminar regarding trade and investment in Jakarta on Oct. 30.

Five Brazilian specialists on trade and investment will talk about areas open for investment at the seminar to be held at the Hilton.

The seminar is part of the Brazilian trade mission in Asia, which will be highlighted by the upcoming Expo Brazil Asia in Singapore from Oct. 28 to Oct. 31. Forty-six major Brazilian companies will participate in the Expo. (das)