Jordan, RI to boost trade and investment
Jordan, RI to boost trade and investment
JAKARTA (JP): A visiting delegation from the Jordanian Businessmen Association (JBA) signed a memorandum of understanding yesterday with the Indonesian Chamber of Commerce and Industry (Kadin) to boost bilateral trade and investment.
The JBA chairman, Hamdi Moh'd Sabri Tabba'a, and the head of Kadin's department of construction and real estate, Agus G. Kartasasmita, signed the memorandum in a ceremony prior to a business meeting between the two parties.
The 29-member delegation invited Kadin members to set up joint ventures in the Jordan rift valley in the sectors of tourism, agriculture, transportation, bridges, water and electricity.
The delegation also asked Indonesian counterparts to invest and use Jordan as a gateway to Middle Eastern countries.
Summit
The JBA said in a statement that the Amman Economic Summit held for Arab and neighboring states in October 1995 came up with investment priorities for regional development cooperation, which include transportation and communication, energy and environment, tourism, trade, agriculture and industrialization.
Jordan offers potential investment opportunities to exploit Dead Sea minerals such as glass sand, feldspars (gray and white minerals), zealot and phosphoric acid.
"Participation from Indonesian businesses is mostly expected for joint ventures to establish food, building materials and aluminum plants, whose products will be marketed in Jordan as well as neighboring Iraq, Palestine and former Soviet Union countries," the statement said.
It added that in the wake of peace treaty in the Middle East, the development of the tourism sector will be promoted.
"Indonesia can play a prominent role in financing the expansion of the hotel training college to cope with increasing demand of such services," said the JBA.
It also said Indonesian businesses can enter the tourism industry by building hotels and health spas and by sponsoring personnel training.
Indonesia is the third leg of the delegation's visit after Malaysia and Singapore.
Trade
During their four-day visit, the JBA members will meet with several Indonesian economic ministers and conduct factory visits.
Jordanian Ambassador Luay M. Al Khashman told the JBA-Kadin business meeting that bilateral trade between the two countries fluctuated and was in favor of Jordan until 1994. In 1995 the trade balance favored Indonesia.
According the Ministry of Industry and Trade, whose data can now be accessed through the Internet, Indonesian exports to Jordan increased from US$25 million in 1992 to $44.6 million in 1993 before falling back to $37.7 million in 1994. Meanwhile, Indonesia's imports from that country steadily decreased from $59.8 million to $35.4 million and to $30.4 million in the same period.
Indonesian exports to Jordan consisted of plywood, paper and pulp, artificial yarn and garments, glassware, tires, fish and crude palm oil, while imports from Jordan included natural phosphates, potash and cement. (kod)