Jakarta to host Turkey exports fair

The Jakarta Post, Jakarta | Thu, 06/02/2011

The Istanbul Exporters Association (IEA-IIB), in cooperation with the Turkish Embassy in Jakarta, will hold the Turkish Export Product Fair at the Jakarta Convention Center from June 2-4.

“We intend to increase the cooperation between Turkish and Indonesian businessmen in order to develop the bilateral trade relationship between both countries,” IEA-IIB chair Zekariye Mete said Thursday.

This is the second time Turkey has held such a fair in Indonesia.

Thirty-three Turkish companies from various industries including food and beverage, baby products, heavy equipment and furniture will participate.

Zekariye said Indonesia and Turkey were important developing markets.

“Indonesia is a rapidly developing country and has a strategic position in Southeast Asia,” he said as reported by kompas.com.

RI, Turkey agree to increase bilateral trade

Antara News, Tuesday, June 29, 2010 21:58 WIB

Ankara (ANTARA News) - Indonesia and Turkey agreed to step up their bilateral trade from its current value at US$2.1 billion to US$5 billion over the next few years.

Turkish president Abdullah Gul and President Susilo Bambang Yudhoyono made the statement in a press conference after meeting at the Turkish presidential palace here on Tuesday.

"Indonesia is not only a country with majority Moslem population but also a country which is rich in natural resources and economic potentials. I even believe the US$5 billion target could grow to US$10 billion," President Gul said.

He said that would be possible because of the Turkish characteristics which are similar to those of Indonesians and because the psychological relationship between the two nations was of very long standing.

President Gul said now a Turkish airline had also opened a flight service between Jakarta and Istanbul enabling Asian people to go to Europe and vice versa.

President Gull said visa cooperation between the two countries cooperation would be stepped up to become a free visa cooperation to promote visits between the two countries.

President Susilo Bambang Yudhoyono meanwhile said he believed the US$5 billion trade target would be achieved in view of the current economic relations between the two countries.

"We are also inviting investors from Turkey to invest in various sectors such as geothermal energy, trade, economy and others," he said.

President Yudhoyono said the eight agreements that had been signed would open a new chapter in the relations between the two countries.

"Let us open a new chapter in the relations that keep increasing," he said.

President Gul said "President Yudhoyono`s visit to Turkey would not be merely symbolic but was very important."

After the meeting the two leaders witnessed the signing of cooperation documents in the fields of politics, defense industry, small and medium businesses, joint programs to increase investment and in news exchange bewteen state television station TVRI and Tukish television.

Indonesia sending arts troupe to Turkey

Antara News, Sunday, April 11, 2010 15:33 WIB

Jakarta (ANTARA News) - Indonesia is sending an arts troupe to Turkey to take part in an arts event in that country, an official of the Ministry of Culture and Tourism (Kemenbudpar) said.

"We are facilitating the dispatch to Turkey of an arts troupe which is composed of students from the Al-Ikhlas junior high school. They will take part in the 3rd International Children Festival in Fethiye," Noviendi Makalam, secretary of the marketing director general of the Kemenbudpar said here over the weekend.

The Indonesian arts troupe which is composed of 24 students from the Al Ikhlas school, will perform in the art events in Fethiye city, South Turkey on April 21 - 28, 2010.

They will among others perform five traditional dances, the pendet dance of Bali, piring dance of West Sumatra, satrio watang dance of Central Java and the pukat and kipah dances of Aceh.

RI, Turkey target US$5 billion in bilateral trade

Antara News, Monday, February 8, 2010 01:32 WIB

Jakarta (ANTARA News) - Indonesia and Turkey have set themselves a target of bilateral trade volume of US$5 billion in the coming five years, Indonesian Ambassador to Turkey Awang Bachrin said here on Sunday.

"We will try to increase the trade volume through various activities such as the publication of `Indonesia News` which contains investment and business opportunities in Indonesia, primary commodities and tourism destinations," he said.

Indonesia`s commodities whose exports to Turkey continued to increase included rubber, rubber-based products, plastic, plastic products and textiles.

These commodities have the prospect to become Indonesia`s main exports to Turkey in the future.

Indonesia in 2009 was Turkey`s 28th biggest exporter country with exports accounting for 0.7 percent of the total value of Turkey`s total imports.

Indonesia imported about 95 types of commodities from Turkey in the 2005-2009 period.

During the period the two-way trade of both nations experienced an annual growth of about 54 percent which was in favor of Indonesia.

In 2008, the volume of both nation`s trade was recorded at 2.1 billion dollars. In 2009, the trade volume however declined as a result of global economic crisis.

Eximbank restructures $88m loans to PT PAL

The Jakarta Post, Jakarta | Mon, 04/06/2009 8:32 PM

Indonesia’s Export Import Bank (BEI) signed a deal to restructure its troubled Rp 1 trillion (US$88 million) loan owed by ailing state shipyard company PT PAL on Monday to help keep the company afloat.

“Our loans to PAL almost reached the maximum limit of disbursed credits, or 25 percent of our total equity which stands at Rp 4.3 trillion,” BEI president director Arifin Indra said on Monday.

He said the bank would still support PAL despite their weak condition by restructuring some of their loan requirements.

“The bank is only restructuring the loans related to working capital for the construction of vessels that are still 25 percent finished,” he said.

PAL has been in financial trouble since it received a contract for the construction of 20 vessels in 2006.

As costs of ship construction soared since then, PT PAL could not cover the increased full production costs and now, the company still has 18 unfinished orders.

The unfinished projects include the building of two vessels ordered by the Navy, four escort tugs worth $6.5 million each ordered by energy company BP Plc and three 38-meter boats ordered by the customs and excise agency.

There is another order for a 50,000 dead weight ton (DWT) vessels ordered by a Turkish private company.

PT PAL also has orders from Italian companies for a tanker with a capacity of 24,000 tons and two tankers with a capacity of 6,000 tons each.