Friday, June 14, 2024

Minister of Trade expects US$ 11 billion transaction value from Trade Expo Indonesia event

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Imanuddin Razak




The Ministry of Trade aims to achieve US$11 billion or around Rp 167 trillion in transaction value at the Trade Expo Indonesia (TEI) 2023. The hybrid format of this expo is claimed to be able to help with the achievement of the target.

Trade Minister Zulkifli Hasan, stated that the target represents a 10% increase compared to the previous year’s TEI transaction target of US$10 billion. However, the actual transaction realization last year far exceeded the target.

“Hopefully, this year we can surpass last year’s transaction achievement of US$15.8 billion,” said Zulhas during the launch of TEI 2023 at the Ministry of Trade office on Monday (July 10).

Facilitating exporters to meet foreign buyers

TEI 2023 targets 1,200 exhibition participants, 25,000 in-person exhibition visitors, and 33,000 online visitors. Zulkifli mentioned that the event also help to present more opportunities for Indonesian exporters to meet potential foreign buyers.

Zulkifli stated that TEI 2023 also includes activities such as business matching, business counseling, and international seminars discussing trade policies and market trends.

He further encouraged exporters to explore potential market openings in non-traditional export destinations, such as South Asia, the Middle East, and Africa.

“We are trying to open up new markets. For example, South Asia with a population of 2 billion, including Pakistan, India, and Bangladesh. The Middle East with a population of 500 million, as well as Africa with a population of 1.4 billion. So, we are maximizing traditional markets and targeting non-traditional markets,” he said.

The TEI 2023 will showcase export flagship products in seven product zones. These zones include Food and Beverages, Home Living, Digital and Services, Beauty and Personal Care, Chemical, Energy and Industrial Products, Medical Equipment and Healthcare, and Fashion, Textile, and Accessories.

Imanuddin Razak






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