Indonesia, Ethiopia to Optimize Economic Potential

Jakarta, Feb 14 (Antara) -- The governments of Indonesia and Ethiopia have agreed on a number of efforts to optimize the economic potential of the two countries, to improve bilateral cooperation in trade. Recently, the Directorate of Africa of the Ministry of Foreign Affairs of Indonesia met with the General Directorate of Asia and Oceania of the Ministry of Foreign Affairs of Ethiopia to discuss business sectors, a press release from the Indonesian ministry, received by Antara here on Saturday, said. "This forum is important for Indonesian stakeholders to strengthen partnerships, especially in the economic fields of both countries," the Director of Africa of the Ministry of Foreign Affairs of Indonesia, Lasro Simbolon, pointed out. In addition, the General Director of Asia and Oceania of the Ministry of Foreign Affairs of Ethiopia, Genet Teshome, stated that Indonesia and Ethiopia had made progress in various fields, especially in the economic sector. Moreover, Teshome invited Indonesian businesspersons to explore the economic potentials and opportunities in Africa, particularly in Ethiopia, which has a population of 94 million people. According to him, Indonesia is important for African countries with regard to opportunities in the business and economic sectors being explored. The business meeting, which was based on the theme of "Optimizing Economic Potentials of Indonesia and Ethiopia," was attended by Indonesian representatives from the Coordinating Board of the Ministry of Trading and Investment, as well as from a number of Indonesian corporations, including Multistrada Arah Sarana, Indorama, Karya Hidup Sentosa, and Tiga Pilar Sejahtera. Ethiopia is the second highest populated country in Africa, with an average economic growth of 10 percent per annum. Furthermore, according to data obtained from the Ethiopian Customs Authority, bilateral trade between Indonesia and Ethiopia showed positive growth in the last five years. The total trade between the nations reached US$349.1 million, a 10 percent increase from that in 2012. Also, Indonesia's exports to Ethiopia include palm oil, paper, soap, electrical appliances, textiles, and rubber.