Jakarta (ANTARA News) - Keen on increasing trade and investment cooperation with Russia, and expanding Indonesia`s export market there, Indonesia is to sand a trade mission there soon, Trade Minister Mari Elka Pangestu said.

"To explore Russia`s investment and trade potentials, we will be sending a trade mission to that country," Mari said at a press conference here Wednesday.

Led by the minister herself, the Indonesian trade mission would be in Russia and Belarus on September 15-18. Members of the mission would be representatives of the Indonesian Investment Coordination Board (BKPM), the public works and industry ministries, integrated economic development areas (KAPETs) and 14 companies operating in various sectors.

The trade mission would conduct a business forum where entrepreneurs from both countries would update the information they had on conditions in each other`s country, and offer trade and investment opportunities.

Mari would also meet the Russian economic and development minister and the Belarus foreign minister to discuss the local market potentials for goods and services from Indonesia.

Further discussions on improving Indonesia-Russia trade cooperation would be done through the Indonesia-Russia Business Council.

It was hoped existing barriers and constraints in Indonesia-Russia trade and investment cooperation could be reduced through the meetings.

"Among the barriers is the absence of bank-to-bank links to support trade transactions, and lack of clarity about trading rules in Russia. There are many trading rules in Russia that we still do not know," she said.

She said Indonesia`s exports to Russia over the past few years had tended to increase although they were still relatively small in value.

Indonesia-Russia trade was increasing at an average rate of 12.11 percent a year and recorded at 774.9 billion US dollars in 2009.

"Our exports to Russia increased about 7.68 percent in the period 2005-2009 and were worth 315.8 billion US dollars in 2009," she said.

Russia`s exports to Indonesia were valued at 244 billion US dollars in 2005 and they increased to 316 billion US dollars in 2009.

"In the first semester of this year, Russia`s exports to Indonesia reached a value of 242 billion US dollars," she said.

Indonesian export commodities to Russia whose value was on the increase were coconut oil, crude palm oil, electronic products, tea.

"However, Indonesia`s role as a supplier to Russia is still very small. Our exports to Russia account for only 0.4 percent of the country`s overall imports. The figure for China is 14 percent, for Japan 4.5 percent and for Korea 3 percent," she said

(KR-MDR/F001/S026)

Editor: Suryanto
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