Mandiri opens Shanghai office

Mandiri opens Shanghai office

JAKARTA: Bank Mandiri opened on Wednesday a representative
office in China's major business city of Shanghai to help
facilitate and promote increasing trade between Indonesia and
China.

"Bank Mandiri has many corporate and individual customers
interested in expanding their businesses to China," president ECW
Neloe said. "We hope the new representative office will be able
to fulfill their needs toward this end by providing them with
information on various business, trade and investment
opportunities in that country."

Since 1998, China has been the third largest investor in
Indonesia, after the United Kingdom and Singapore. The country
has also been Indonesia's fourth largest trade partner, after the
United States, Japan and Singapore.

Between 1999 and 2003, Indonesia's exports to China saw an
average growth of 16.8 percent per annum. During the first 10
months of 2003 alone, its value reached US$3.04 billion. China's
exports to Indonesia, meanwhile, recorded $2.45 billion during
the same period, with a total trade value of $ 5.49 billion
between the two countries. -- JP