May 13, 2010 News Comments Off on Indonesian delegation discusses trade possibilities
The Republic of Indonesia is currently seeking to engage Guyanese businesses in several areas of trade including sugar, machinery, tooling, footwear, building material and consumer products.
This was disclosed during a meeting between the Members of the Georgetown Chamber of Commerce and Industry (GCCI) and an Indonesian Delegation headed by the Second Secretary of the Embassy of the Republic of Indonesia in Suriname, Endah Yuliarti Farry. Farry along with Honorary Consul of the Republic of Indonesia for Guyana, Mr. Sheik Niamatali, highlighted several economic benefits of trade and investment ties between Guyana and Indonesia.
The meeting, which was held at the GCCI Boardroom, was attended by President of GCCI, Mr. Komal Ramnauth; Chairman of GCCI’s Trade and Investment Committee, Mr. Clinton Urling; as well as GCCI members, Shanti Persaud, Raj Singh and Rabindranauth Seenarine.
Farry said that Indonesia is an emerging market economy and ranks among the largest economy in Southeast Asia. With a population well in excess of 200 million, Indonesia is the fourth highest populated country in the world preceded by China, India and the United States.
She noted that Indonesia has numerous exporters and several trade and investment possibilities.
Honorary Consul of Indonesia for Guyana, Mr. Sheik Niamatali, said that Guyana imports confectionaries, soaps, paper, glass and building material from Indonesia and there are several other possibilities.
According to Niamatali, a significant volume of Guyana’s timber is currently sold into South East Asia. This facilitates two-way shipping opportunities on a regular basis.
President of GCCI, Komal Ramnauth, welcomed the initiative on the part of the Indonesian Embassy and asked that the two parties take the meeting as a first step in continuous collaborations.
Chairman of GCCI’s Trade and Investment Committee, Clinton Urling, noted that he was impressed with the management of the Indonesian Economy as it is one of few countries to show a growth in spite of the global economic downturn.
Farry invited GCCI, its members and the entire business community to participate in annual trade fairs hosted by Indonesia.
She also presented a package to Ramnauth which included information on the Indonesian Economy, list of exporters and guidelines for doing business in Indonesia.
Indonesia is one of the emerging market economies of the world, and also a member of the G-20 major economies. It has a market-based economy in which the government plays a significant role by owning more than 164 state-owned enterprises and administers prices on several basic goods, including fuel, rice, and electricity.
Indonesia has shown resilience amid the global financial crisis because of its heavy reliance on domestic consumption as the driver of economic growth. Although the economy slowed significantly from the 6 per cent plus growth rate recorded in 2007 and 2008, expanding at four per cent in the first half of 2009, Indonesia outperformed its regional neighbours and joined China and India as the only G20 members posting growth during the crisis.
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