IORA Business Summit Has Great Meaning: Trade Minister

Jakarta (Antara Bali) - The Indian Ocean Rim Association (IORA) Business Summit, which will be held at the Jakarta Convention Center on March 6, will have a significant meaning for Indonesia and other member states, Trade Minister Enggartiasto Lukita said.

"The IORA Business Summit will have a great meaning. For the first time ever, state leaders and business leaders will gather for the same activity. This region will be the future of the global economy, with great potentials," he stated here on Saturday.

Businessmen from IORA member states have expressed their interest in taking part in the summit, he added.

"The businessmen have expressed great interest to attend it. We originally predicted that the number of participants would reach some 150 but the number has increased to 300. However, we will restrict the number f participants," he remarked.

 The participants of the IORA Business Summit will be businessmen and representatives of chambers of commerce and industry in IORA member states, he underlined.

"We can benefit from this business meeting to follow up on various businesses in which we can cooperate, particularly with regard to trade and investment," he pointed out.

One of the highlights of the business meeting will be trade expo aimed at demonstrating Indonesia's key commodities and economic potentials, he noted.

"We also plan to hold several bilateral meetings to discuss mutually beneficial trade agreement. Some time ago, the Indonesian foreign minister opened a market for our products in South Africa," he stated.      
IORA is an international organization consisting of coastal states bordering the Indian Ocean.

The organization is based on the principles of open regionalism for strengthening economic cooperation, particularly on trade facilitation and investment, promotion as well as social development of the region.

IORA member states include Australia, Bangladesh, Comoros, India, Indonesia, Iran, Kenya, Madagascar, Malaysia, Mauritius, Somalia, Mozambique, Oman, Seychelles, Singapore, South Africa, Sri Lanka, Tanzania, Thailand, United Arab Emirates, and Yemen.  (WDY)