TEI 2023 Temporary Transaction Number Reaches 25.3 Billion US Dollars

Spice products and food spices produced by IKM Java Spices actors were exhibited at the 2023 Indonesia Expo Trade Event. (Photo: Doc. ANTARA)

JAKARTA - The number of transactions at the 38th Trade Expo Indonesia in five days reached 25.3 billion United States (US) dollars or the equivalent of IDR 401.5 trillion.

The total transactions consist of goods and services transactions worth USD 22.49 billion, and investment transactions amounting to USD 2.81 billion.

Director General of National Export Development Didi Sumedi is optimistic that global conditions which are predicted to begin recovering next year will also boost transactions at the trade fair which is held every year.

"It was proven that even though we were tense, it was proven that 11 billion US dollars (was exceeded). It's not easy, you know, the calculation is that we know that this year the world is still not doing well. But, again, this is a matter of trust (belief) that global trust is still good for products Indonesia," said Didi, quoted from Antara, Monday, October 23.

However, he did not clearly reveal the target value of TEI's next transaction.

Even though it will be higher than this year's target, there will still be an evaluation stage, calculating trends and competitiveness.

However, he believes that the quality of Indonesian products is now increasingly meeting the standard criteria required by the global market.

"Because in 2024, God willing, global trade will rebound, so I am quite confident that even though trade indications are down this year, it turns out that international buyers' trust in Indonesian products will actually increase," he said.