Fischer mulls Goh's RI plan

Fischer mulls Goh's RI plan

CANBERRA (Reuters): Australia was still considering supporting a Singaporean proposal for a multilateral system of guarantees to prop up Indonesian exports, Trade Minister Tim Fischer said on Wednesday.

"We are... having further dialogue with Singapore and the issue is one which is still under consideration," Fischer, who is also deputy prime minister, told reporters.

Singapore Prime Minister Goh Chok Tong in February proposed a multilateral system of guarantees for Indonesian letters of credit to allow the financially-stricken country to import components vital for its export trade.

Australia has already unveiled its own bilateral program to underwrite Australian exports to Indonesia, its eighth largest export market.