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)