ID :
147056
Fri, 10/22/2010 - 10:36
Auther :
Shortlink :
http://m.oananews.org//node/147056
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TTR urges private sector to expand investment in Indonesia
BANGKOK, Oct 22 -- Thailand Trade Representative (TTR) Suthad Setboonsarng announced Thursday that his office has targeted doubling the value of trade between Thailand and Indonesia from the current annual export value of US$4.5 billion or Bt135 billion and to treble bilateral investment to Bt1 billion annually by 2015.
“Indonesia ranks top among ASEAN members in terms of its economic size. The country’s gross domestic product (GDP) totaled $670 billion in 2010 and is expected to reach $1.1 trillion in 2015 while Thailand’s GDP totals $350 billion, [ASEAN's] second largest, and is projected to rise to only $400 billion.
“It indicates Indonesia’s growth potential is very strong. So it is an opportunity for Thai business to give investment priority to the Indonesian market. TTR is ready to support and facilitate investment in Indonesia by Thai entrepreneurs, particularly small- and medium-size enterprises (SMEs),” he said.
Mr Suthad said his recent visit with the Thai delegation to Indonesia ended with an impressive success. Thai businesspeople explored investment opportunities in the agricultural and energy sectors in Indonesia.
Indonesia has vast farm areas, but is still short of silos and modern sugar mills. The country is also in dire need of electricity as it has insufficient power generation capacity.
He said the Indonesian Agriculture Ministry agreed to buy another 100,000 tons of Thai fragrant rice [khao hom mali].
Since Indonesia still needs rice in a huge volume, TTR proposed negotiation for a trade deal between private sectors of both countries.
Should the negotiation end with a success, he said, Thailand would earn around Bt3-4 billion baht in revenue.
Simultaneously, Indonesia had sought to buy 500,000 tones of white rice from Thailand, he said, adding both sides are negotiating for an appropriate price agreement. (MCOT online news)
“Indonesia ranks top among ASEAN members in terms of its economic size. The country’s gross domestic product (GDP) totaled $670 billion in 2010 and is expected to reach $1.1 trillion in 2015 while Thailand’s GDP totals $350 billion, [ASEAN's] second largest, and is projected to rise to only $400 billion.
“It indicates Indonesia’s growth potential is very strong. So it is an opportunity for Thai business to give investment priority to the Indonesian market. TTR is ready to support and facilitate investment in Indonesia by Thai entrepreneurs, particularly small- and medium-size enterprises (SMEs),” he said.
Mr Suthad said his recent visit with the Thai delegation to Indonesia ended with an impressive success. Thai businesspeople explored investment opportunities in the agricultural and energy sectors in Indonesia.
Indonesia has vast farm areas, but is still short of silos and modern sugar mills. The country is also in dire need of electricity as it has insufficient power generation capacity.
He said the Indonesian Agriculture Ministry agreed to buy another 100,000 tons of Thai fragrant rice [khao hom mali].
Since Indonesia still needs rice in a huge volume, TTR proposed negotiation for a trade deal between private sectors of both countries.
Should the negotiation end with a success, he said, Thailand would earn around Bt3-4 billion baht in revenue.
Simultaneously, Indonesia had sought to buy 500,000 tones of white rice from Thailand, he said, adding both sides are negotiating for an appropriate price agreement. (MCOT online news)
