July 26, 2005

Hungary hopes to up wheat imports to Indonesia
 

Hungary has offered to supply wheat to Indonesia in an attempt to increase trade between the two countries.

On Jul 25, Hungarian Prime Minister Ferenc Gyurcsani said during a visit at the Presidential Palace in Jakarta, Indonesia, that Indonesian exports to Hungary are 10 times as high as Hungarian exports to Indonesia.

As such, Hungary hopes to balance the transaction between both countries by increasing its export to Indonesia. It has no plans, however, to limit exports from Indonesia.

Hungary will also offer information technology and military products, on top of wheat commodity, to Indonesia.

Currently, Indonesia's wheat imports totalled 5.0 tonnes annually, with the bulk imported from Australia.

According to Indonesia's Trade Minister Mari Elka Pangestu, trade between the two countries reached a value of US$108 million last year, with Hungary's exports to Indonesia hitting US$12 million.

The two countries would meet again in autumn to follow up on this issue.