According to Antara.co :
Jakarta (ANTARA News) – A 20-member South Korean business delegation is visiting Indonesia to explore the possibility of importing non-oil/non-gas commodities, such as bauxite, scrap iron,, textiles, handicraft goods, leather and foods.
The South Korean businessmen met with 50 Indonesian business partners to follow up on the agreement between the two countries to enhance cooperation.
“Korea is Indonesia`s important trade and investment partner. Two-way trade in 2006 reached US$10.57 billion, up 6.17 percent from 2005,” Secretary General of the Indonesian Trade Ministry Hatanto Reksodipoetro said in his address to the meeting here on Monday.
South Korea was the sixth biggest market for Indonesia`s non-oil/non-gas commodities last year with total imports reaching US$3.4 billion. Meanwhile, Indonesia imported US$2.8 billion worth of commodities from South Korea last year.
“Trade between Indonesia and South Korea still can be enhanced and developed if such a meeting can be held regularly,” he said.(*)
- Indonesia had once offered Singapore to increase their investment in Indonesia…and now Korea is desperately wanted to import not only non-oil/non-gas products from Indonesia to establish the “co-operation” or path to import other things like Natural Gas… which Korea had been desperately needed….which Singapore also need! Indonesia had even decided to HALF the natural gas export to Korea and Japan in 2010 when their contract ends…citing higher domestic demand which might spell trouble for Singapore also…
With higher demand from Korea…Japan, China, USA, India, and many more countries…the price of Liquefied Natural Gas (LNG) will skyrocket starting even now…Indonesia demanded higher price for LNG from Korea.… Russia also will want to demand higher price for natural gas export to Ukraine.…Iran might be an unstable natural gas exporter…due to political reasons.
When 2012…the Singapore LNG terminal will be completed but how much are you willing to pay for LNG for your electricity generation?? $1000 per month? $2000? hmmm
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