IOC members call for direct trade info on RI
JAKARTA (JP): Islamic countries should be able to invest directly in Indonesia and should not have to go through western intermediaries, an official of the Organization of Islamic Conference said yesterday.
Chairman of the organization's Economic Consultative Forum H. Sudrajat said that OIC investments in Indonesia are currently channeled through western consultants because of a shortage of skilled staff in OIC countries.
Sudrajat, also chairman of the Indonesian Chamber of Commerce and Industry's Middle East committee, called for more foreign direct investment from OIC's member countries.
He said several projects have been financed by OIC member countries, including the road project between Surabaya and Malang in East Java, several coconut plantations and potential shipping sectors.
He said Indonesia's investment in the Middle East was small compared to other countries, but Indonesia's exports have reached US$1.6 billion.
"President Soeharto has urged that our country increase business activities with OIC," he said.
Export credit can be obtained from the Islamic Development Bank, which has allocated $100 million this year, he said.
Indonesia's non-oil and gas exports to the Middle East include wood products, textiles and clothing, footwear, construction materials while imports include phosphorus from Algeria and Jordan, Sudrajat said.
He said Indonesia's share of commercial activities in OIC's population of 100 million people is a minimum capita of $10 per person annually.
Established 26 years ago, OIC maintains a membership base of 54 countries from Asia, Africa and the Middle East. The Economic Consultative Forum was formed in 1990 to seek and develop business and economic opportunities among its members.
The forum held its monthly meeting here yesterday to inaugurate the new co-chairmen including the Ambassador of the Republic of Yemen Abdul Wahid Mohamed Fara and Charge d'Affaires of the United Arab Emirates (UAE) Mohammad Saeed Al-Kindi.
They replace the forum's previous co-chairmen Turkish ambassador Sevinc Dalyanoglu and Tunisian ambassador Mohamed Said El Kateb. (01)