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RI, Brazil ink strategic partnership
The Jakarta Post , Jakarta | Wed, 11/19/2008 11:14 AM | Headlines
Rising regional powers Brazil and Indonesia are to sign a strategic partnership at the start of a three-day visit by President Susilo Bambang Yudhoyono on Tuesday (Wednesday in Jakarta), Brazil's foreign ministry said.
Brazil is South America's largest nation and Indonesia is the largest country in Southeast Asia.
The accord, to be inked in Brasilia, will open the way for joint actions in areas such as biogenetics, biofuels, the fight against hunger, and science and technology, AFP reported, quoting the ministry's statement.
Yudhoyono was greeted by Brazilian President Luiz Inacio Lula da Silva on Tuesday ahead of the signing ceremony.
On Wednesday, he is to travel to Sao Paulo to visit a factory run by Embraer, Brazil's plane-maker, and a biofuel plant.
On Thursday, he will be in Rio de Janeiro for a meeting with business leaders.
In July this year, President Lula visited Indonesia to boost bilateral relations.
In recent years, trade between Indonesia and Brazil has grown considerably. Bilateral trade jumped to US$1.58 billion in 2007, a huge jump from $641.27 million in 2003. In the first seven months of this year, it had already reached $1.27 billion.
Indonesia mainly exports textiles, rubber, cacao and palm oil to Brazil, and imports iron ore, soy, cotton, pulp and sugar from there.
In foreign investment, Brazilian company Companhia Vale do Rio Doce (CVRD) entered the nickel mining industry by acquiring PT Inco Indonesia's parent company, Canada-based Inco, for $17.8 billion in 2006.
On the Indonesian side, paper company Riau Andalan Pulp & Paper has invested $500 million in Brazil in a paper project.
Yudhoyono, who is on a tour of Latin American countries, visited Mexico the day before.
Mexican President Felipe Calderon and Yudhoyono announced an oil cooperation agreement between their state-run oil companies after a meeting Monday, AFP reported.
The agreement established cooperation in "development, scientific and technological investigation, and exploration and drilling" between Petroleos Mexicanos (Pemex) and Pertamina, Indonesia's oil company, Calderon said.
Pemex is the 11th largest national oil company in the world. Indonesia was until recently a member of OPEC, the Organization of the Petroleum Exporting Countries.
Yudhoyono, who arrived in Mexico City from Washington after attending the Group of 20 economic meeting in Washington over the weekend, said he was also seeking to increase economic ties between the two countries.
Calderon, who also attended the G-20 crisis talks, said another cooperation agreement in agriculture, education and diplomatic training had been signed with the visiting president.
The two leaders will also travel to Lima for next weekend's summit of the 21-nation Asia-Pacific Economic Cooperation (APEC) bloc.
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