Saudi minister to visit Indonesia

Saudi minister to visit Indonesia

JAKARTA (JP): Saudi Minister of Industry and Electricity
Hashem Abdullah Yamani, leading a delegation of 30 business
executives, will arrive here next Tuesday for a three-day visit
to promote trade and investment relations with Indonesia.

The executive chairman of the Middle East Committee of the
Indonesian Chamber of Commerce and Industry, Muchrim Hakim, said
that the business delegations of the two countries will exchange
views and information in efforts to explore the possibilities of
establishing investment joint ventures and trade cooperation.

"Saudi private-sector investment in Indonesia is too small. We
need to promote business opportunities to Saudi investors,"
Muchrim said.

Saudi Ambassador Abdullah Abdul Rachman Alim told reporters
here yesterday that the Saudi minister will hold meetings with
Indonesian ministers, while the business delegates will conduct
discussions with their Indonesian counterparts.

Yamani will meet with, among others, Minister of Industry and
Trade Tunky Ariwibowo, State Minister for Development Planning
Ginandjar Kartasasmita, State Minister for Research and
Technology B.J. Habibie, State Minister of Investment Sanyoto and
Minister of Mines and Energy I.B. Sudjana.

Ambassador Alim said that Saudi Arabia adopts a free trade
system, allowing its businesspeople to make investments anywhere
they wish and to set up trade cooperation with partners of any
other countries.

According to the Central Bureau of Statistics, Indonesia's
trade deficit with Saudi Arabia soared to US$495.1 million last
year from $267 million in 1994. Indonesian exports to the Kingdom
last year surged to $943.28 million from 1994's $680.21 million,
while its imports from the country rose only slightly, from
$413.12 million in 1994 to $448.17 million, creating the trade
deficit.

Muchrim said the private sectors of the two countries have
been committed to further promoting their business relations by
establishing liaison bodies.

"We will soon establish here the Indonesia-Saudi Arabia
Business Council," he said. (riz)