The Largest From India, Temporary Transaction Results At The Trade Expo Indonesia Have Capai 2.94 Billion US Dollars

TANGERANG - Minister of Trade (Mendag) Zulkifli Hasan said that the 37th Trade Expo Indonesia (TEI) recorded the results of a temporary transaction of 2.94 billion US dollars until the closing of the exhibition offline on Saturday, October 23.

"This is for us a big number, but of course we hope it will be much bigger. The value of this transaction will still increase until December 19, 2022, because the implementation of TEI online will still take place," said the Trade Minister when closing the 37th TEI, quoted by Antara, Sunday, October 23.

The Minister of Trade explained that the 37th TEI was attended by 795 business people as participants, 3,226 buyers from 187 countries, and 27,063 visitors.

The total transient transactions are obtained from trade in goods and services, daily transactions, business matching, and investment transactions.

According to the Trade Minister, the country with the largest investment was from the Netherlands amounting to 100 million US dollars for power supply, 10 million dollars from South Korea for agricultural and livestock investments, and from Belgium 1.5 million dollars for furniture.

The largest transactions during the 37th TEI came offline from India amounting to USD 871.1 million, Japan USD 568.9 million, and the United States worth USD 197.3 million.

Meanwhile, the 10 most recorded export products and services during the 37th TEI were palm oil, paper and paper products, agricultural products, coal, processed foods, wood products, chemical products, furniture, electronics and electrical equipment, and spices.

"From the implementation of JMFW, we also received transactions of 13.2 million US dollars or Rp203 billion. This is proof that our Muslim fashion products are in demand by the international market," said the Trade Minister.

Zulkifli also gave the highest appreciation to all support from the Indonesian government, the government of friendly countries, business players, exporters, the Chamber of Commerce and Industry, and ambassadors.

"So if we work closely together like this, God willing, the ideals of becoming a developed country in 2045 can be achieved. We also express our appreciation to the trade attach, ITPC, buyers, exhibitions, including the organizers and state-owned companies," said the Minister of Trade.

The Trade Minister added, ahead of 2023, it is said that there will be a recession, which means there is an economic slowdown. Therefore, the Trade Minister views that there needs to be a breakthrough in efforts to increase non-oil and gas exports, including penetrating non-traditional markets.

"Uncertainty should not weaken us. I believe any circumstances are as heavy as possible, there will be many opportunities for optimistic people," said Zulkifli.

Zulkifli is also optimistic that the transaction target of 10 billion US dollars will be achieved until the entire TEI series is completed.