---------------------------------------------------------- Visit Indonesia Daily News Online HomePage: http://www.indo-news.com/ Please Visit Our Sponsor http://www.indo-news.com/cgi-bin/ads1 ---------------------------------------------------------- ANTARA, September 22, 1999 Observer-Embargo: Economic Embargo By Canberra Advantageous To RI, Says Observer Surabaya, E.Java, Sept 21 (ANTARA)-The economic embargo Australia is threatening to clamp on Indonesia over the East Timor issue will actually work to Indonesia's advantage, an economic observe said here Tuesday. "I think, the threat of economic embargo by Australia is just bluff, because if it is really carried out it will only benefit Indonesia," Prof Dr H Suroso Imam Zadjuli SE of the Surabaya-based Airlangga University said. Zadjuli said, he based on his observation on the fact that the Australia-Indonesia international trade has always been a deficit to the former. The economist disclosed that the value of Australian trade in Indonesia makes up only one percent of the total of Indonesia's international trade. "Japan tops the list with 40 percent of the foreign investment in Indonesia. Australia makes up just one percent. "An embargo will only benefit Indonesia's domestic trade because the local entrepreneurs will grab the opportunity in developing the commodities which have been heretofore supplied by Australia," said Zadjuli, who is dean of the University's school of economies. The dean pointed out that Australia has two main commodities in its trade with Indonesia namely beef and phosphate fertilizer. "Local entrepreneurs (in Indonesia) will be able to substitute Australian beef by local meat, which is comparable in quality but cheaper in price," Zadjuli observed. Meanwhile, Indonesia can substitute Australian phosphate fertilizer by import from Jordan and Algiers, which are cheapers. According to economist, an economic embargo against Indonesia will be suicidal to Australia, because it needs much more expenses in carrying out international trade with other countries because it can not go through Indonesia's territory. Asked the possibility of Australia joining hands with other countries to carry out the threat, Zadjuli said that the other countries would not be likely to agree because Indonesia is a potential market and has great natural resources. "Even if they conspire to impose economic embargo together, Indonesia can survive for years because it has abundant potential of rice, textile, fish and other needs," he said. (SBY-08/SBY-06/INT-NS/18:35/INT-AJM-23:06/NN01/23:26/TB06) ++++++++++++++++++++++++++++++++++++++++++++++++++++ Didistribusikan tgl. 24 Sep 1999 jam 08:14:04 GMT+1 oleh: Indonesia Daily News Online <[EMAIL PROTECTED]> http://www.Indo-News.com/ ++++++++++++++++++++++++++++++++++++++++++++++++++++
