Brosh: breakthrough in relations between Israel and Indonesia

The agreement was signed by MAI President Shraga Brosh and Indonesian Chamber of Commerce and Industry president Mohamad Hidayat
 
The Manufacturers Association of Israel ( MAI ) signed last week its first economic agreement with Indonesia to cooperate in business & industrial matters.
 
The agreement was signed by MAI President Shraga Brosh and Indonesian Chamber of Commerce and Industry president Mohamad Hidayat.
 
According to the agreement the two bodies would work to exchange business information, advance joint business projects and help Indonesian & Israeli companies in their activities in Israel and in Indonesia. Brosh and Hidayat announced after the signing that a joint working committee was formed to ensure the agreement is implemented.
 
After the ceremony Brosh said that "Indonesia can be a central market for exporting Israeli goods to Southeast Asia," Brosh added that "I also see great importance in strengthening economic ties with the world's largest Muslim country."
 
Trade with Indonesia, which has no diplomatic ties with Israel, reached approximately $160 million in 2005, of which just $14m. were Israeli exports, mainly in the chemicals and electronics industries. Imports from Indonesia which was $140m.were mainly in electronics products, plastics and rubber. ( in 2004 total bilateral trade was $120m of which $11m were Israeli exports and $108m imports ).
 
Brosh noted that the bilateral agreement would increase trade between the two countries four-fold within four years, to reach over $600 M by 2010.