UAE investors to explore various industries in Indonesia

Investors from the Union of Arab Emirate will explore industries of Islamic banking, tire and CPO refinery in Indonesia, a press statement said here on Wednesday. The investors' visit to Indonesia is part of the country's effort in promoting the Trade Expo Indonesia (TEI) 2011. They consist of delegation of 30 CEOs/executive vice presidents, managing directors, general managers from 20 Islamic banking, tire and CPO refinery industries. They will stay on Oct. 19-28 to explore cooperation opportunities in Islamic banking as well as to follow up plan to build tire factory valued at 90 million U.S. dollars and CPO refinery factory of 100 million dollars. Indonesia's General Consulate in Dubai in cooperation with the Foreign Trade Ministry of UAE and Dubai Export Development Corporation (DEDC) facilitates the mission that is expected to create business transaction between the two countries. Total trade volume of both countries increased by 26.40 percent from 1.6 billion U.S. dollars in 2009 to 1.96 billion U.S. dollars in 2010.