INDIA TO HOLD TRADE EXPO IN JAKARTA

Jakarta, July 16 (ANTARA) - The Indian embassy in Jakarta through the Indian Industry Confederation in cooperation with the Indonesian Chamber of Commerce and Industry (Kadin) is preparing to hold a trade exhibition at the Kartini Hall in Jakarta on August 7-10, 2009.

"The trade exhibition would display four categories of products, namely automotive, technical, pavilion equipment, and services," Indian Ambassador to Indonesia Biren Nanda here on Thursday.

He said the automotive products to be exhibited would include cars, spare parts and garage accessories. The technical products would include agricultural machineries, mining technologies, drilling equipment, iron and steel wares.

The pavilion equipment would include handicrafts, gems, and garments. In the services sector, the expo would show financial, travel and tourism products.

The Indian embassy and Kadin will also hold a seminar and a business meeting , a CEO forum, and a food festival.

The ambassador hoped that various parties, including policy makers, Kadin members, technicians, contractors, consultants, dealers and agents could benefit from the momentum during the most comprehensive trade exhibition ever held by India in Indonesia.
The products to be displayed are partly made in India and made by Indian companies operating in Indonesia.

"There are more than 20 Indian companies operating in Indonesia, including two oil and gas companies that operate in Sumatra," he said.

India has so far only managed to meet around 20 percent of the domestic demand for gas. Therefore, the private sector and the government had to import gas, the ambassador said.

In 2007 India was Indonesia's seventh largest export partner, with a trade balance heavily favoring Indonesia for its main exports of crude palm oil, coal, rubber, and other commodities, according to a report of the Jakarta Post early this year.

The bilateral trade in the first nine months of 2008 was US$7.76 billion. With figures showing that trade with India reached $7.76 billion by September 2008, a 75 percent jump from $4.43 billion in 2007 during the same period, it is clear trade with the subcontinent is on the rise. The year 2003 only saw $2.40 billion worth of trade take place.

President Susilo Bambang Yudhoyono announced a new strategic partnership with India during a visit in 2005, setting a trade target of $10 billion by 2010.