RI enjoys surplus of 404 million euros in its trade with Belgium

Jakarta (ANTARA News) - Two-way trade between Indonesia and Belgium reached 795.38 million euros in the January-August 2006 period with the former enjoying a surplus of 404.35 million euros.

"Trade relations between the two countries always favour Indonesia," Indonesian Ambassador to Belgium, Luxemburg and European Union Nadjib Riphat Kesoema told ANTARA by phone on Wednesday.

Indonesia enjoyed a surplus of 807.68 million euros in its trade with Belgium in 2002. The figure slightly fell to 700.43 million euros in 2003, 650.77 million euros in 2004 and 622.04 million euros in 2005.

Trade between the two countries dropped to 1.1 billion euros in 2003 from 1.25 billion euros in 2002. The figure declined further to 1.10 billion euros in 2004 but moved up to 1.16 billion euros in 2005.

He expressed optimism that trade between the two countries in 2006 would be ahead of last year`s.

Indonesia`s exports to Belgium included wood, footware, furniture, garments, fish, paper, pulp and tobacco, while its imports from the European country included chemicals and machinery.

He further said Belgian investments in Indonesia had shown an upward trend since 2001.

Belgium was listed as the 16th biggest foreign investor in Indonesia in 2005 with US$16.4 million in six projects. However, in the first half of 2006 Belgian investments reached US$1.1 million.

Data from the Investment Coordinating Board (BKPM) show that from 2002 to July 2006 Belgian investments in Indonesia reached US$33.9 million in 25 projects. Most of Belgian investors are engaged in plantations, waste treatment, and textile industry.