Tue, 08 Feb 2000

RI, Korea businessmen to meet

JAKARTA (JP): More than 100 Indonesian businesspeople will hold talks with their South Korean counterparts in Seoul to coincide with President Abdurrahman Wahid's two-day state visit beginning on Thursday.

Soy M. Pardede, chairman of the trade department of the Indonesian Chamber of Commerce and Industry, told reporters here on Monday the upcoming meeting would provide a good opportunity to launch new efforts to reinvigorate the two countries' economic ties, which were adversely affected by the regional economic crisis.

"Now that South Korea has been enjoying a robust recovery it is well positioned to import more from Indonesia and even make new investments through asset acquisitions," Pardede said.

He added that Indonesia could learn a great deal from South Korea's success in emerging from its economic crisis in less than two years.

"Korea posted an economic growth of 9 percent last year and now has more than US$60 billion in foreign reserves," Pardede said.

He said Indonesian Minister of Mines and Energy Susilo Bambang Yudohoyono and Minister of Industry and Trade Jusuf Kalla would take part in the business meeting.