The Bali provincial government is looking to expand the market share of Balinese products in the ASEAN region following the relaxed post-COVID situation.
“In the last five years, the increase in exports of Bali products to ASEAN countries reached 11.75 percent on average,” said the Head of International Trade at the Bali Industry and Trade Office (Disperindag) Ni Wayan Lestari on Saturday (8/4).
Several initiatives have been implemented to achieve such goals including targeting potential countries with trade promotions, especially countries that have connections to the Southeast Asian export market.
In addition, the Bali provincial government has been making efforts to foster and empower businesses to enhance the competitiveness of export-oriented products to meet the ASEAN market demands.
In addition to trade volume and value, Bali is also seeking to expand the exports of products with the largest market share, including horticultural and fishery products.
Bali Industrial Agency noted that in 2022, there are three ASEAN countries that received the largest export from Bali, including Thailand (US$11.6 million), Vietnam (US$5.78 million), and the Philippines (US$2.15 million).
Based on the Certificate of Origin (COO) data, the value of Bali’s total exports to ASEAN increased from US$10.9 million in 2021 to US$23.25 million in 2022.
Meanwhile, the Head of Bali Provincial Central Statistics Agency (BPS), Hanif Yahya stated that Balinese products have great potential in the ASEAN market due to their cultural similarity.
“Looking at the market share, especially in ASEAN where Indonesia and Bali share a similar culture, such as in food, there is certainly high demand for Balinese products in the ASEAN. This has become Bali’s export magnet”, said Hanif as reported by Republika.
BPS Bali has reported the realization of Bali’s export value in ASEAN in 2022 had reached US$104.3 million, which is a significant increase compared to US$31 million in 2021. The high number had placed Bali in the third largest export value to ASEAN following the US with US$229.5 million and Europe with US$114.6 million.
Bali’s flagship export products
In total, Bali’s export value in 2022 had reached US$617.5 million, an increase compared to the US$508.1 million recorded in 2021.
The highly exported products from Bali includes fish, shrimp, shellfish, clothing, accessories, jewelry, gems, wood, and wooden products.
Currently, the Minister of Marine Affairs and Fisheries Sakti Wahyu Trenggono, is encouraging Bali to develop its potential for the export of marine and fishery products to become a hub for marine and fishery cultivation, industry, and export markets.
There is also a plan to build a mega-project international fishery center in Jembrana, Bali, because of its strategic location near the Banda Sea and enormous potential for various species of fish, such as tuna, lemuru, and other pelagic fish.
