Belarus-Indonesia business forum to open in Jakarta on 19 March
JAKARTA, 18 March (BelTA) – A Belarus-Indonesia business forum will open in the capital of Indonesia on 19 March, BelTA has learnt.
Belarusian businessmen will inform Indonesian partners about economic, export and scientific potential of Belarus and export insurance schemes used in Belarus. The parties are expected to sign a number of agreements and contracts, including contracts to supply Belarusian machinery.
The Belarusian-Indonesian trade and economic cooperation has been vibrant. Over the last 17 years the mutual trade increased from $1.8 million in 1995 to nearly $220 million in 2011. The bilateral trade shrank in 2012 due to the smaller supplies of Belarusian potash fertilizers to Indonesia. Last year the trade was estimated at $132.2 million and made up 60.3% as against 2011. Belarus imports crude rubber, enameled paper, tobacco raw materials, cocoa butter, processed fish, footwear, palm and coconut oil from Indonesia. Belarus’ major exports to this country include potash fertilizers and tires. Tire supplies are managed by a trading house of Belshina in Singapore that opened in 2009. In 2012 Belarus delivered $19 million worth of tires to Indonesia. Besides, Belarus supplies tires for Caterpillar and Komatsu dump trucks assembled in Indonesia.
In 2012 Belarus started exporting trucks to this country. In December 2011 BelAZ registered a trading house Belasia in Singapore to facilitate its export to the Indonesian market. MAZ, MTZ and Amkodor are also mulling over exporting their products to Indonesia.
The Belarus-Indonesia commission for trade, economic, and sci-tech cooperation was set up. The commission is co-chaired by deputy foreign ministers of the two countries. A regular, fourth, session of the commission is to take lace in Indonesia in H2 2013.