Firm urged to boost trade with OIC members

JAKARTA (JP): President Soeharto called on domestic companies here yesterday to boost trade with other members of the Organization of Islamic Conference (OIC).

The President said that enhancing trade activities with other OIC member countries is important within the context of improving Indonesia's exports.

"Indonesia's exports to the other OIC members are still very low, accounting for only one-tenth of the country's total exports. The opportunity to boost the trade with those countries is undoubtedly tremendous," he said in his address at the opening of a trade exhibition of OIC members.

The OIC trade exhibition, held in tandem with Indonesia's 11th export product and youth entrepreneurship exhibition, is conducted as part of the organization's chamber of commerce's annual meeting.

Indonesian exports to OIC members increased by 14 percent per annum in the last five years, said Soeharto.

Indonesian exports to the OIC members reached US$3.1 billion in 1995, an increase of around 80 percent from $1.7 billion in 1991.

Soeharto acknowledged that a number of problems, such as the lack of direct sea and air links, and poor sales promotion of Indonesian products, still impede exports to other Islamic countries.

"OIC members still find it easier to procure consumer products and other goods, from European countries," the President said.

Indonesia still has the opportunity to tap the growing business potential of OIC members, should it be able to boost its sales promotion in those countries, he said.

"With the ongoing exhibition and the improving relations with those countries, we will be able to minimize difficulties," he added.

Soeharto outlined the importance to Indonesian businessmen of further accelerating non-oil exports.

The role of non-oil exports in the country's economy will be more important in coming years, particularly in reducing the country's growing current account deficits, he said. (hen)