Indonesia to import Libyan crude under countertrade deal

Indonesia has signed an agreement with Libya to import crude oil from that country in exchange of imports of 16 Indonesian commodities, the ministry of industry and trade said Friday.

Minister of Industry and Trade Rini M.S. Soewandi and Libya?s trade committee secretary general Abdulqader Omar Elkhair signed the countertrade accord in Tripoli on August 25, the ministry said in a statement.

Under the agreement, Indonesia will bring in from Libya 50,000 barrels per day of crude oil in a one-year period. The country can import more Libyan crude oil if the countertrade agreement turns out to benefit the two countries, the ministry said.

The 16 products to be shipped to Libya include textiles and garment, footwear, toiletries, food products, tea, coffee, spices, wood products, furnitures, plastic wares, vegetable oil, car spare parts and airplanes. (godang)