Indonesian Minister of Trade Zulkifli Hasan officiated on Saturday, June 22, 2024, the export of eight containers of high-tech coated steel products to Australia, Canada, and Puerto Rico by PT Tata Metal Lestari.
PT Tata Metal Lestari is a steel company that produces zinc-aluminum coated steel under the brand name Nexalume, with a factory located in Cikarang, West Java, Indonesia.
In a statement on Saturday, praised PT Tata Metal Lestari (part of the Tatalogam Group) for seizing export market opportunities with a commitment to green and sustainable industry principles.
“We take pride in exporting products from SMEs, and this high-tech industry export is particularly commendable,” Zulkifli said.
Stephanus Koeswandi, Vice President of Operations at PT Tata Metal Lestari, attributed the company’s export success to government support, domestic industry protection, sustainable industry restructuring, innovation, and adaptation.
Established in 2019, the company now operates at 85 percent of its production capacity, with 30 percent of its output dedicated to exports. Export sales contribute 25 percent to 30 percent of the company’s revenue.
Tata Metal Lestari is an expansion of Tatalogam Group’s downstream industry. Founded in 1994, the parent company produces metal roofing and lightweight steel.
The demand for steel products from importers, especially in Canada and Australia, has surged in the past five years, increasing by 16.94 percent and 14.72 percent, respectively. Despite this, Indonesia’s trade balance with these countries remains in deficit.
Zulkifli expressed hope that the export of coated steel products will help reduce this trade deficit. The government is also working to expand market access to Canada and Australia through trade agreements.
Indonesia already has a Comprehensive Economic Partnership Agreement (CEPA) with Australia, while negotiations with Canada are ongoing.
