ACC Commemoration Promoting Business Cooperation

Jakarta (Antara) - The 60th anniversary commemoration of the Asian African Conference (AAC) has opened an opportunity and serves as a media to promote economic cooperation and expand business relations. Deputy chairman of the Indonesian Chamber of Commerce and Industry (Kadin) Bambang Sujagad said here the AAC commemoration was a good momentum to expand export markets for countries in the two regions. "This is an opportunity to expand direct relations. So far exports to Africa have to go via Singapore," he said. The commemorative summit meeting serves as a forum of exchanging market information among the participating countries. "This is important as business begins with information," Bambang said. He said he hoped after meeting each other the Asian and African leaders could better understand condition in each country and cooperate in removing the hurdles hampering business expansion. "Hopefully agreements reached in the meetings of business leaders could be implemented with support and regulation by the governments of the countries involved," he said. He said good relations between governments would contribute to improving business relations in the regions, he added. Head of the National Development Planning Board Andrinof Chaniago said the ACC 2015 would give birth to new forums of business cooperation between countries in the two regions. The creation of the forum would be one of the positive result of the AAC for Indonesia. It will open an opportunity for Indonesia to discuss directly economic cooperation with a number of countries in the regions, he said. There are certainly investment opportunities as some of the Asian African nations already make expansion to other countries, he stated. There are a number of Asian African countries which are powerful economically such as China. China already has large investment in Africa. Meanwhile, Kadin general chairman Suryo Bambang Sulisto said Africa is a potential trading partners . Africa could supply fruits, vegetables, meat and live animal to Indonesia and Indonesia could exports electronic goods, machinery and cars to that region, Suryo said. Asian and African countries are growing economies and could form a mutually beneficial economic cooperation, he said. The two continents account for 75.3 percent of the world population and for 28.5 percent of the global gross domestic products. "The fact that the GDP contribution is small indicate that there are still huge economic potentials remaining untapped especially in Africa," he said. Low purchasing power of the majority of African people has been the main factor discouraging exports from Indonesia to that region, he said. However, Indonesia should not miss the opportunity and find itself lagging behind other countries in establishing foothold in emerging markets in Africa, he added. Business expansion Vice President of PT Austindo Nusantara Jaya Tbk Istini T Siddharta said Indonesia should strengthen business communications to build trust to pave the way for stronger investment cooperation with other countries in Asia and Africa. Communications are important to convince other countries to promote trade and investment cooperation with Indonesia, Istini Siddharta said. He said there are still potential business potentials not yet sufficiently exploited for mutual benefit. Asia and Africa are big regions and a highly potential growing markets, he said, adding Indonesia needs only to develop and foster relations with countries in the two vast continents. He said he hopes the AAC commemorative meeting would have positive impact on trade between countries in the regions for the welfare of the peoples in the two regions. AA Business Council The 34 countries of Asia Africa agreed to formally establish Asian Africa Business Council (AABC)to strengthen economic and business cooperation in the two regions. The agreement, which was reached at an Asian-Africa Business Summit (AABS) with theme of "Realization of Asian-African Partnership for Progress and Prosperity, and The New Asian-African Strategic Partnership 2015, held as part of the ceremonies to commemorate AAC. Among the important points of the AABC include strengthening trade and industrial cooperation , reducing red tape, expanding connectivity , cooperation in infrastructure development, and supporting small enterprises. Meanwhile, Vice President of The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Muhmammed Waseem Vohra said AABC is a big step toward cooperation between Asian African countries. "This is important to promote business and to improve the welfare of the peoples of the two continents. CEO of Baraka Contracting and Trading of Egypt, Mohamed Abdel Rahman Bakara said AABC would lead countries in Asia and Africa to move forward together to greater prosperity . The Executive Chairman of AABC 2015, Noke Kiroyan said AABC groups business leaders of various sectors -- trade, investment, infrastructure, maritime and agribusiness. Those operating in trade would push for the removal of trade barriers, boosting and facilitating trade and expand direct trade between countries in the regions.(*)