26 March 2004

Foreign Minister Nkosazana Dlamini-Zuma and her Indonesian counterpart, Noer Hassan Wirajuda, have signed an agreement to increase trade and strengthen political and cultural links between the two countries.

The two ministers, who co-chaired the Asian-African Sub-Regional Organisations Conference (AASROC) that opened in Durban on Wednesday, also discussed the African Union and the implementation of Nepad, South Africa's position on recent developments in Iraq, the Middle East, Haiti and Zimbabwe, and the recent ministerial meeting of the India-Brazil-South Africa forum in India.

During the meeting a memorandum of understanding for the establishment of a joint commission on bilateral cooperation between both countries was signed.

The agreement allows for increased investment by South African companies in the vast mineral reserves of Indonesia, where Gencor (Ingwe) is very active. South African companies Iscor, Anglo-American and Plessey have also expressed an interest in investing in Indonesia.

Murray and Roberts, which has an office in Indonesia's capital Jakarta, hopes to obtain civil construction contracts in the infrastructure sector, while Thebe Investments has signed an agreement with Indonesian-owned trading company PT Prima Comexindo.

One of the biggest information technology companies in South Africa, M-Web, has an investment portfolio of $16-billion in Indonesia.

So far, the two countries have signed agreements on avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income, air services and trade agreements.

Source: BuaNews

	South African trade with Asia

	Department of Foreign Affairs  Dept of Trade & Industry

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