Message from Indian Ambassador S.T. Devare

Message from Indian Ambassador S.T. Devare

I am grateful to The Jakarta Post for the opportunity to
inform, through this special feature, about the important events
taking place in Indian-Indonesian bilateral economic relations,
which are planned for Jakarta. An exclusive Indian Trade
Exhibition will be held at the Jakarta Fair Grounds, Kemoyaran,
from March 19 to March 23, 1996.

A meeting of the Joint Business Council, between the
Indonesian Chamber of Commerce and Industry (Kadin) and the
Federation of Indian Chambers of Commerce (FICCI), will take
place on March 19, following which there will be a seminar,
"Partners in Progress", at which Indonesian and Indian
entrepreneurs, businesspeople and officials are expected to
discuss, in depth, business opportunities between the two
countries.

A high-level delegation from India will be participating in
these events. Besides this, the Engineering Export Promotion
Council (EEPC) of India will be holding discussions with
interested Indonesian companies on March 20.

Indonesia-India economic relations have been steadily
improving in recent years. Our bilateral trade has registered a
marked increase from a two-way bilateral trade of US$596 million
in 1994, to an estimated figure of $800 million in 1995. In 1994,
the trade was also fairly balanced, with Indian exports to
Indonesia at $318 million and Indonesian exports to India at $278
million.

There are 17 Indian joint ventures in Indonesia, with
investment at about $216 million. Some of these companies are
currently undergoing expansion. Lately, Indonesian investment has
also begun in India. Given the size of our economies and markets,
human and natural resources and the proximity of the two
countries, the current trade or mutual investment is indeed far
below the actual potential. There are extensive complementarties
which need to be further explored and with this view in mind, the
proposed exhibition and business meetings in Jakarta have been
planned.

The Trade Exhibition, put up by the Indian Trade Promotion
Organisation, which has experience and expertise in organising
such fairs all over the world, will have the participation of 60
Indian companies, large, as well as medium and small, in fields
ranging from machine tools, electrical equipment, chemicals, auto
components, agro-industrial products, to consultancies and
services.

At this Indian Fair, the kind of which is taking place here
after six years, manufactured goods and machinery will be on
display and businesspeople will be available for one-on-one
discussions. I am sure this will enable Indonesian businesspeople
to have a firsthand view and knowledge of Indian products and
services in a number of areas.

The Joint Business Council between India and Indonesia has
been meeting from time to time and their discussions next week,
at the level of the Presidents of Chambers of Commerce and
Industry of the two countries, will provide a very useful
opportunity to review our bilateral trade and economic
cooperation and to take new initiatives in promotion of our
business ties as the economies of India and Indonesia surge ahead
with greater liberalisation and reforms.

The proposed seminar will centre on three specific themes,
namely, computer software, textile machinery and automotive
components. These three areas are of mutual interest. Business
speakers from Indonesia and India will be speaking in detail on
these subjects and encouraging possibilities are envisaged for
developing close ties in these fields.

Indonesia and India have consistently subscribed to and
supported the idea of South-South cooperation. Both our countries
have the necessary resources and strengths to enlarge our
bilateral ties and thereby promote the larger concept of South-
South cooperation.

As a Full Dialogue Partner with ASEAN, India looks forward to
enhancing its economic, industrial, scientific and technological
contacts with ASEAN countries. I am confident that the
forthcoming events will lend a new vigour and give impetus to our
continuing efforts in forging a "partnership in progress" with
Indonesia.