US$1 BILLION INVESTMENT FROM RUSSIA
Tempo Interactive -- 1 May 2006
TEMPO Interactive, Jakarta: Indonesia targeted trade and investment volume with Russia to reach US$1 billion up until 2008. Indonesian Ambassador to Russia, Susanto Pudjomartono, last weekend said up to now, the volume of Indonesian trade with Russia is still low. To increase potential cooperation and investment, both countries agree to create a trading house as a means of information exchange.
The volume of trade between Indonesia and Russia is increased in 2004. The trade volume in 2004, amounting to US$360 million, rose to US$500 million in 2005. However, this number is still far below the trade volume of Russia with other ASEAN countries, such as Vietnam, Malaysia, and Thailand, which are above US$600 million on average. Russia has not been included in the top five countries investing in Indonesia.
According to Susanto, one of the obstacles in trade relations between Indonesia and Russia is the matter of payment. Russia is not accustomed to the letter of credit payment system from Indonesia. However, Russia has the potential to invest due to a large reserve of foreign exchange. “Their reserve on foreign exchange reached US$300 to US$400 million,” he said.
TEMPO Interactive, Jakarta: Indonesia targeted trade and investment volume with Russia to reach US$1 billion up until 2008. Indonesian Ambassador to Russia, Susanto Pudjomartono, last weekend said up to now, the volume of Indonesian trade with Russia is still low. To increase potential cooperation and investment, both countries agree to create a trading house as a means of information exchange.
The volume of trade between Indonesia and Russia is increased in 2004. The trade volume in 2004, amounting to US$360 million, rose to US$500 million in 2005. However, this number is still far below the trade volume of Russia with other ASEAN countries, such as Vietnam, Malaysia, and Thailand, which are above US$600 million on average. Russia has not been included in the top five countries investing in Indonesia.
According to Susanto, one of the obstacles in trade relations between Indonesia and Russia is the matter of payment. Russia is not accustomed to the letter of credit payment system from Indonesia. However, Russia has the potential to invest due to a large reserve of foreign exchange. “Their reserve on foreign exchange reached US$300 to US$400 million,” he said.
posted by Zumrowi Yunus at
4:19 PM
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