Kadin's Business Visit To Israel
A business delegation consisting of 15 Indonesian prominent businessmen coordinated by KADIN visited Israel last week to strengthen cooperation with the Israeli counterpart organizations.
A cooperation agreement was signed by Mr. Mohamad S. Hidayat, President of KADIN, and Mr. Shraga Brosh, President of IMA (The Israeli Manufacturer's Association) whereby the two would work to exchange information, advance joint business projects and help Indonesian companies in their activities in Israel and vice versa. A joint working committee has been formed to ensure the agreement is implemented, Mr. Brosh and Mr. Hidayat announced after the signing. A similar agreement was also signed between KADIN and the Israeli Export Institute (IEI).
During the short four-day-visit, the Indonesian delegation had a very hectic schedule conducting working visits to Israeli industries, R&D centers as well as networking meetings with leading businessmen and companies. They had learned a lot about the Israeli economy, industries and businesses.
Indolink, on behalf of the Israeli Export Institute, delivered a lecture to KADIN delegation about the Israeli business culture. The lecture was intended to bridge the sharp cultural gap between Indonesian and Israeli business conducts so the two sides will be able to understand each other and adapt their differences when developing business relations.
In fact, trade between the two countries has been active though the volume is far below the potential. Since the issuance of permit to conduct trade with Israel, Indonesia has been in trade surplus with Israel. In 2005 trade value was approximately $154 million, of which just $14M were Israeli exports while imports from Indonesia were $140 M predominantly in electronics products, plastics and rubber.
IMA estimated the cooperation agreement with KADIN would increase trade between the two countries four-fold within five years, to reach $600M by 2010. The areas to develop cooperation will include agriculture, telecommunications, electronics and medical products.