Poland's'BREAKing Stops', RI's Exports Of Jumbo To The Middle And Eastern European Markets

Illustration (Photo: Doc. LPEI)

JAKARTA - The Indonesian Export Financing Agency or LPEI (Indonesia Eximbank) said that the market share of Eastern and Central Europe has not been fully exploited by Indonesia. In fact, this area is quite potential for Indonesian products considering that there are 410 million people and a fairly high per capita income, which is above 10,000 US dollars.

This is what is summarized in the book Road to Poland which was launched at the Indonesia Central and Eastern Europe (INACEE) Business Forum 2022 recently.

Head of the Indonesia Eximbank Institute Division Rini Satriani said that throughout 2021 the value of Indonesia's exports reached 1.78 billion US dollars to Central and Eastern Europe.

"In this region, our exports are mostly aimed at Poland. To that end, Poland is the strategic gateway for market expansion to other countries," he said in a press statement on Wednesday, October 26.

According to Rini, Book Road to Poland reviews Poland's economic opportunities, developments and projections amid the dynamics of global trade developments, including with Indonesia.

It was also revealed that this book was reviewed on the competitiveness of Indonesia's superior export products to Poland, including the potential for export development and cooperation or business opportunities that could be improved between the two countries.

"This is a form of adaptation in finding solutions to overcome today's world challenges, in an effort to increase economic cooperation, trade, investment and other fields between Indonesia and partner countries, especially in the Central and East Europe region," he said.

Rini added that this minutes were prepared in collaboration with the Embassy of the Republic of Indonesia (KBRI) Warsaw and was expected to increase bilateral cooperation between Indonesia and Poland.

For information, Poland is Indonesia's largest export destination for the Central and East European Regions with a total export value of 2021 of US$654.6 million. This figure is up 48.4 percent year on year (yoy).

Meanwhile, January-August 2022 amounted to US$662.3 million, up 54.1 percent yoy. Some of the Indonesian products that are in demand in Poland include instant noodles, coffee candy, batik, furniture, coffee and palm oil.

Entering a new market is a challenge for exporters. Opportunities and risks for export destination countries must be comprehensively identified. Therefore, this book can be a reference and initial guide for exporters in entering the Middle and East European markets that currently have GDP above 4 trillion US dollars, particularly to Poland, "concluded Rini.