Trade War Provides New Opportunities: President Jokowi
President Jokowi visits the 33rd Trade Expo Indonesia (TEI) in Tangerang, Banten, Wednesday (24/10). Photo by: Jay, Public Relations Division of Cabinet Secretariat.
Indonesias export value has been increasing in recent years, according to President Joko Jokowi Widodo. The President added that in September 2018, export value is US$ 122 billion, 9.2 % higher compared to that of 2017.
“Our export growth is 9.2 %. It means that our export value is getting better and better,” the President said in his remarks at the opening of the 33rd Trade Expo Indonesia (TEI) in Tangerang, Banten, Wednesday (24/10).
The President added that the Government would continue to encourage factories, business entities, and industries to enter the export market.
On that occasion, President Jokowi also talked about the recent trade war among the countries, saying that during difficult times, there are always opportunities. Thus, he urged business entities to use the opportunities to enter new markets available. “This is an opportunity that should be used (to achieve our goals),” President Jokowi said.
The President also urged business entities to expand to non-traditional markets, like South Africa, which previously have been neglected. “I urge our Ambassadors and Consul Generals to work hard to open our non-traditional markets. South Asia, Russia, the Middle East, Africa, Turkey, Pakistan, and the ASEAN market are great opportunities that have been neglected for years. I hope we can begin to pay our attention to the non-traditional markets so that our export will increase and we can achieve a trade balance surplus,” President Jokowi said.
President Jokowi further said that the business entities shall continue to update their product designs in accordance with markets demand, to improve product packaging, and to pay attention to the promotion of products. “(The promotion) is important, whether it is by joining business exhibitions around the world or by doing online promotion,” President Jokowi added.
President Jokowi also stated that the current account deficit in 2017 reaches 17.3 billion US dollars; therefore, improving the trade balance is very important, by ensuring that the export value is higher than the import value. Nevertheless, the President praised the efforts made by the business entities to enter the export market, especially the non-traditional one.
“Alhamdulillah (praise be to Allah), in September our trade balance shows US$ 220 million surplus. I hope that in October, November, in other months and years, we can achieve sustainable trade balance surplus,” President Jokowi said.
In the meantime, Minister of Trade Enggartiasto Lukita reported that the TEI is the largest business-to-business exhibition in Indonesia, dedicated to buyers who are looking for high-quality and competitive Indonesian products, and is held for 5 days from 24 to 28 October 2018.
TEI 2018 presents more than 300 high quality and highly competitive products and services. The product will be divided into eight zones, namely Nusantara cuisine; crafts and lifestyle products; furniture; creative products and services; manufacturing products; strategic industry products; food and beverages products; and local champion products.
Also present during the event were Coordinating Minister for the Economy Darmin Nasution, Minister of Trade Enggartiasto Lukita, and Head of the Creative Economy Agency (BEKRAF) Triawan Munaf.
(FID/JAY/ES) (RI/EP/Naster)
Translated by: Ridwan Ibadurrohman
Edited by: Muhammad Ersan Pamungkas
