RI, Kazakhstan sign banking deal

JAKARTA (JP): Commercial banks in Indonesia and Kazakhstan can now arrange banking transactions and exchange information under a banking agreement signed here to support economic cooperation between the two countries, the central bank announced yesterday.

"The agreement on banking arrangements by representatives of the two countries' central banks here last Friday provides general guidelines on making transactions and exchanging information and data between commercial banks of the two nations," Bank Indonesia released in a statement yesterday.

It said the agreement was signed by a Bank Indonesia director, Boediono, and first deputy chairman of the National Bank of Kazakhstan Uraz Alyevich Dzhandosov, who was here to accompany the state visit of Kazakhstan President Nursultan Nazarbayev.

The statement said the banking arrangement is expected to support trade and investment relations between the two nations.

Minister of Trade Satrio B. Joedono said Friday that he would lead a delegation of businessmen to Kazakhstan next month to promote trade and investment ties between the two countries.

After a bilateral meeting here last Friday, Nazarbayev and President Soeharto agreed to boost economic cooperation between the two nations and to encourage their private sectors to actively take part in the cooperation.

Indonesia has thus far signed banking arrangement agreements with a number of countries, including Iran, Iraq, Rumania, Turkmenistan, Bulgaria, Russia and Hungary. (riz)