Indonesia, Iraq agree to promote ties

Indonesia and Iraq have agreed to increase bilateral trade ties and to explore the possibility of establishing long-term industrial cooperation, Indonesian news agency ANTARA reported.

The agreement was reached in the fifth meeting of the Indonesia-Iraq Joint Commission last week, said ANTARA quoting a press statement from the Indonesian Industry and Trade Ministry.

The meeting, that was held on Oct 12-15 in Baghdad, was attended by Industry and Trade Minister Rahardi Ramelan and 40 Indonesian businessmen from general trade, oil, transportation, telecommunication, health, as well as chemical and electric equipment industrial sectors.

The Iraqi government has supported Indonesia's will to increase exports in the framework of the "Oil for Food" program.

The two countries have also agreed to prepare two Memorandum of Understanding (MOUs) on counter trade and inter-central bank cooperation.

The MOU on the inter-central bank cooperation will be signed in Baghdad in January 2000.

Indonesia is scheduled to take part in the Baghdad International Fair on November 1-10, and to hold the Indonesia Solo Exhibition in Iraq.

The statement also said Indonesia is exploring the possibility of making investments in the Al Zubir Free Zone Area in Iraq.