S. American countries to hold 3-day business seminar here
S. American countries to hold 3-day business seminar here
JAKARTA (JP): Latin American and Caribbean countries will hold
a three-day business seminar starting next Tuesday in a bid to
strengthen their trade relationships with Indonesia, the
organizer said yesterday.
"Indonesia needs to tap the potential of the Latin American
market to boost its exports given the current slowdown in its
export growth," said Hadi Soesastro, executive director of the
Center for Strategic and International Studies (CSIS).
Latin American and Caribbean countries have total population
of 400 million with a combined gross domestic product of US$1.47
trillion.
The "Latin America and the Caribbean: Economic Outlook and
Opportunities" seminar is scheduled to be opened by Minister of
Foreign Affairs Ali Alatas. It will be held at the CSIS building
in Central Jakarta on the first day through the middle of the
second day, from where it will proceed to the Sari Pan Pacific
hotel, also in Central Jakarta.
The co-organizers include CSIS, the Indonesian Chamber of
Commerce and Industry as well as the Latin American and Caribbean
Ambassadors Group in Indonesia, which groups the ambassadors of
Argentina, Brazil, Chile, Colombia, Cuba, Mexico, Panama, Peru
and Venezuela.
The event will provide opportunities for businesspeople,
academicians and government officials from Indonesia and South
American and Caribbean countries to meet each other.
"Indonesia may start with promoting trade with those
countries. Once the trading evolves, we can continue with making
investments," Hadi said.
Deficits
According to official data, said Hadi, Indonesia runs trade
deficits with most Latin American and Caribbean countries.
Indonesia's exports to Latin American countries reached $525
million in 1995, against $1 billion in imports.
Indonesia's exports to Brazil in 1995 reached $201.4 million,
compared with imports of $413.7 million; exports to Chile stood
at $104.3, against imports of $291.2 million; exports to
Argentina totaled $47.9 million, compared with $224.7 million in
imports; exports to Mexico were $88.4 million, against imports of
$92.4 million; exports to Peru $15.3 million, against imports of
$33.1 million; exports to Venezuela $19.1 million, against
imports of $5.4 million; exports to Columbia $18.9 million,
against imports of $2.5 million and exports to Cuba $1.2 million,
against imports of $100,000.
Hadi said a large proportion of Indonesia's trade with Latin
American and Caribbean countries is conducted through Singapore.
Brazilian Ambassador Jadiel Ferreira de Oliveira said that the
seminar will afford Indonesian businesspeople the chance to meet
with their Latin American and Caribbean counterparts to promote
direct trading relations.
"Brazil, for instance, buys palm oil and natural rubber from
Singapore, which comes from Indonesia. And, believe it or not, we
buy Indonesian wood from the United States. We have to stop this
trade through third parties," he said.
The ambassador noted that cooperation between members of the
Association of Southeast Asian Nations and the Latin American
common market, called Mercosur, is important because they have
much in common in terms of development modes, privatization
efforts and macroeconomic policies.
Mercosur comprises Argentina, Brazil, Paraguay and Uruguay.
Chile has just signed an association agreement with the group,
while Bolivia and Venezuela are negotiating terms to join. (jsk)