ID :
41765
Tue, 01/20/2009 - 21:04
Auther :
Shortlink :
https://www.oananews.org//node/41765
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RI-INDIA TRADE RISING
Jakarta, 20 Jan (ANTARA) - India and Indonesian will meet the US$10 billion bilateral trade target by 2010 despite the economic downturn, Indian ambassador to Indonesia Biren Nanda said here on Tuesday.
In 2006 trade between the two nations was valued at US$6.5 billion, an increase of 20 percent from US$4 billion in 2005.
The ambassador said that while commodity prices might change because of the global financial crisis, India's trade volume won't decrease.
"As our population grows, we need more resources. India buys two million tonnes of palm oil from Indonesia every year, This will stay consistent despite the economic crisis. The price of oil may fluctuate but the physical quantities won't change," Nanda said.
He said there was a lot of commercial activity and interest in Indonesia. New Indian investments in Indonesia include an aluminum smelter plant and a power plant in South Sumatra, a stainless steel plant in Surabaya and more nickel and coal mines.
The National Aluminum Company Limited (NALCO) which is investing US$4 billion in Indonesia expects the global economic and financial crisis to be over by the time construction of the aluminum smelter and power plants is finished in three years.
About the tragedy in Palestine which was attacked by Israel,
the envoy said the Indian government had given a total of US$38 million of assistance to Palestine.
"India condemns the actions of Israel and has called upon Hamas (the Sunni Muslim Paestinian group) to resist," Nanda said.
"We want to see a united state of Palestine; secured by internationally recognised borders," Nanda said, adding "The second concern is humanitarian assistance to the people affected in Gaza".
To address this, the Indian government had given an extra US$1 million to the United Nations Relief and Works Agency earlier this month to provide shelters, cash assistance and essential household items to victims of the Israel-Palestine conflict in Gaza.
In 2006 trade between the two nations was valued at US$6.5 billion, an increase of 20 percent from US$4 billion in 2005.
The ambassador said that while commodity prices might change because of the global financial crisis, India's trade volume won't decrease.
"As our population grows, we need more resources. India buys two million tonnes of palm oil from Indonesia every year, This will stay consistent despite the economic crisis. The price of oil may fluctuate but the physical quantities won't change," Nanda said.
He said there was a lot of commercial activity and interest in Indonesia. New Indian investments in Indonesia include an aluminum smelter plant and a power plant in South Sumatra, a stainless steel plant in Surabaya and more nickel and coal mines.
The National Aluminum Company Limited (NALCO) which is investing US$4 billion in Indonesia expects the global economic and financial crisis to be over by the time construction of the aluminum smelter and power plants is finished in three years.
About the tragedy in Palestine which was attacked by Israel,
the envoy said the Indian government had given a total of US$38 million of assistance to Palestine.
"India condemns the actions of Israel and has called upon Hamas (the Sunni Muslim Paestinian group) to resist," Nanda said.
"We want to see a united state of Palestine; secured by internationally recognised borders," Nanda said, adding "The second concern is humanitarian assistance to the people affected in Gaza".
To address this, the Indian government had given an extra US$1 million to the United Nations Relief and Works Agency earlier this month to provide shelters, cash assistance and essential household items to victims of the Israel-Palestine conflict in Gaza.
