Trade Expo Indonesia Records 100 Trade Deals Worth US$ 1.19 Billion

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation     Date 20 Oktober 2022
Category: News
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President Jokowi accompanied by Cabinet Secretary Pramono Anung, Coordinating Minister for Economic Affairs Airlangga Hartarto, and Minister of Trade Zulkifli Hasan inspects the 37th TEI exhibition at ICE, BSD city, Tangerang Selatan city, Banten province, on Wednesday (10/19). (Photo by: PR of Cabinet Secretariat/Jay)

The 37th Trade Expo Indonesia (TEI) of 2022, held at the Indonesia Convention Exhibition (ICE), Tangerang regency, Banten province, broke a record of 100 trade agreements signed simultaneously with buyers from 14 countries. Transactions totaling US$1.19 billion or Rp18.45 trillion were made on the first day.

“I believe the trust and enthusiasm of international trading partners for Indonesian business actors reflect their trust in the momentum of ‘Strengthening Global Trade for Global Recovery’ promoted by Indonesia in the 37th TEI,” said Minister of Trade Zulkifli Hasan on Wednesday (10/19).

The 100 trade agreements were signed in the form of 99 Memorandums of Understanding (MoU) and one Letter of Intent (LoI). Meanwhile, the value of trade agreements reached US$1.19 billion, with Indonesian business actors signing contracts with buyers from Japan (US$411.25 million), Malaysia (US$175.89 million), Egypt (US$150.00 million), the Netherlands (US$120.11 million), Saudi Arabia (US$112.99 million), Italy (US$82.95 million), United Kingdom (US$62.00 million), the United States (US$42.00 million), Australia (US$11.65 million), Brazil (US$10.00 million),  Spain (US$10.10 million), Germany (US$3.00 million), Bangladesh (US$2.00 million), and the Philippines (US$43.00 thousand).

Food and beverages, fishery products, paper products, palm shells, processed foods, medicines, vegetables, briquettes, palm sugar, coffee, furniture, beauty products, spices, wood products, and tires are all included in the trade contracts. There are also investment contracts for shore-to-ship power supply.

The Minister of Trade also thanked Indonesian trade representatives, the Trade Attachés, and the Indonesian Trade Promotion Centers (ITPC), who work in accredited countries.

“Indonesian trade representatives in partner countries are committed to continuously improving the performance of expanding Indonesian products in partner countries’ markets in order to boost Indonesia’s non-oil and gas exports,” he said.

Previously, President Joko “Jokowi” Widodo expressed his hope that the 37th TEI would record large transactions and increase Indonesia’s trade balance surplus.

“Hopefully, we will be able to achieve the more than US$10 billion target set by the Minister of Trade, which will boost our trade balance surplus in the near future,” stated the President.

On this occasion, President Jokowi also expressed his appreciation for the efforts of all parties in maintaining Indonesia’s trade balance surplus for the past 29 months.

“It is owing to the support of you, Ladies and Gentlemen, we continue to have a surplus in our trade balance for 29 months. Previously, Pak Zul, the Minister of Trade, said that from January to September our surplus reached US$39.8 billion, which is not a small amount, and it is also due to the hard work of you all.” he said. (MAY/Public Relation of Ministry of Trade/UN) (YC/AW/HD/MUR)

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