Indonesia, China trade cooperation vital: exec

JAKARTA (JP): Improved trade and investment relationships between Indonesia and China is needed to support economic growth in the Asia-Pacific region, an executive says.

"It is impossible for the Asia-Pacific economy to grow without higher economic growth in Indonesia and China, the two most populous countries in the region," Chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Aburizal Bakrie told reporters prior to a seminar here yesterday on trade and investment relations between Indonesia and China.

The seminar was held by the Ministry of Trade in cooperation with the Word Trade Center of Jakarta and the China Economic and Trade Consultants Corporation (Consultec) to coincide with a one- week visit of a trade delegation from China.

Aburizal, better known as Ical, said that the commercial relationship between Indonesia and China will bolster cooperation in the Asia-Pacific Economic Cooperation (APEC) forum which groups 17 countries in the region.

Minister of Trade Satrio Budiardjo Joedono said in a written message to the seminar that two-way trade between China and Indonesia increased from US$1.14 billion in 1990 to $2,02 billion in 1991, $2.14 billion in 1992 and $2.18 billion last year.

From the trade with China, Indonesia enjoyed a trade surplus of $182.1 million in 1990, $356.1 million in 1991, $644.9 million in 1992 and $313.5 million in 1993.

Data from the Investment Coordinating Board (BKPM) showed that in the last 26 years, China's investment in Indonesia totaled $70.1 million in 19 projects, far lower than Taiwan's investment of $4.03 billion for 266 projects.

The Chinese businessmen, led by Consultec's vice president, Gao Zhen Xian, will visit industrial estates in Cikampek of West Java, the Jakarta International Trade Center in Kemayoran, Central Jakarta, and Bali. (icn)