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Vol 6 (AAC) No 3

Published 1st January 2013

Growth in a time of global austerity

Despite the global slowdown, Africa-Asia trade moves full steam ahead

State-owned oil company PT Pertamina made its largest African acreage purchase in December. A deal for stakes in three Algerian blocks owned by United States company ConocoPhillips for US$1.8 billion should be completed in 2013. The company started shipping lubricants to the South African market for the first time in November 2012. The President of the People’s Representative Council, Marzuki Alie, visited Algeria in November to establish an inter-parliamentary friendship group. Indonesia’s diplomats are also looking to deepen trade and diplomatic ties with Morocco and Ethiopia.

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