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Business news, 28.04.2006 11:27

Indonesia to supply 50,000 tonnes of palm oil to Russia

indonesia Indonesia is ready to supply 50,000 tonnes of crude palm oil to a refining company to be set up in St Petersburg, Russia, Indonesian Ambassador to Russia Susanto Pudjomartono has said.

"Indonesia is ready to supply the raw material," he said at a meeting in Moscow on April 27 between 25 Russian businessmen and trade ministry officials.

The diplomat said the two countries had agreed to double their bilateral trade to one billion USD in the next two years. "At present trade between Indonesia and Russia is recorded at 500 million USD, lower than between Russia and Thailand. However, I am optimistic the target will be reached," Indonesia's Antara news agency quoted Susanto as saying.

Indonesia exports vegetable oils, machineries and electrical tools, tea, tobacco, footwear, cacao, and natural rubber to Russia.-Enditem

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