"Indonesia and Iran have agreed to continue to make efforts to increase the two countries` trade balance," the general chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Suryo Bambang Sulistyo, said at the Indonesia-Iran Business Forum here on Tuesday.
Bambang said trade between the two countries was done through third countries so far such as the United Arab Emirates, Turkey, Malaysia and Singapore.
"So, we think we have no obstacles. What we need is efforts to increase investment in sectors which developmental potentials," he said.
Forty-three delegates from Iran have been invited to the Business Forum which was facilitated by Kadin`s Committee for the Middle East and the Organization of the Islamic Conference (OIC) countries.
The delegations represent businesses such as oil and gas, petrochemicals, construction, fertilizers, banking, food and beverages, construction materials and paper.
"The Iranian businesses wish to explore the economic and investment potentials in Indonesia and at the same time expand the market of Indonesian commodities in Iran," he said.
He admitted under current conditions where Iran had been under economic pressure due to its nuclear development it would be difficult for any country to develop trade ties with that country.
"Nuclear and energy resources are inseparable. Therefore trade transactions have to be done carefully. In view of that breakthroughs are needed through involvement of more third parties or barters," he said.
Iranian ambassador to Indonesia Mahmoud Farazandeh meanwhile said the investment potentials which could be developed in both countries were huge.
He said if developed the potentials could increase the balance of trade between the two countries.
"It is hoped in three to five years the trade balance between Indonesia and Iran could reach US$5 billion from US$1.2 billion in 2010.
The deputy chairman of Kadin`s Middle East and OIC Committee Rudy Rajab meanwhile said that in the Business Forum some investment potentials emerged to be developed in Indonesia such as oil and gas, iron ore, ceramic industry, electricity plants, banking and machinery industry.
Among the investment potentials to be developed in Iran meanwhile include food and beverages, tires, medicines, furniture, agricultural products, manufacturing, paper and printing products.
According to data at the Indonesian ministry of trade, total balance of trade between the two countries in 2010 reached US$1.2 billion rising from around US$863.205 million in 2009.
In 2010 Indonesia`s total non-oil/gas exports to Iran reached US$639.74 million while its imports from Iran reached US$590.40 million.
So, Indonesia enjoys a surplus of US$48.97 million in its trade with Iran in 2010.
(Uu.R017/H-YH/HAJM/S012)
Editor: Priyambodo RH
Copyright © ANTARA 2011
