Sunday, 28 November 2021 | 06:17 WIB

Trade Expo Indonesia 2018 Optimistic to Boost Achievement of Non-Oil and Gas Export Target

2018 Trade Expo Indonesia at the International Convention Exhibition in Tangerang, Banten on October 24-28

JAKARTA, NNC - The organization of the 2018 Trade Expo Indonesia at the International Convention Exhibition in Tangerang, Banten on October 24-28 showed encouraging results. The Indonesia's largest export exhibition posted a transaction worth USD8.49 billion or IDR127.33 trillion.

Minister of Trade Enggartiasto Lukita said this value increased five-fold compared to the previously set target of USD1.5 billion. With these results the Government is optimistic that it can surpass this year's non-oil and gas export growth of 11 percent.

"This achievement further increases optimism in achieving the 2018 non-oil and gas export target of 11 percent, equivalent to USD169.82 billion," said Enggartiasto Lukita in a press release on Saturday (11/10/2018).

The Minister of Trade explained that transactions that occurred during TEI 2018 included trade, tourism and investment transactions. Trade transactions consist of product transactions (goods and services) amounting to USD2.77 billion.

Product transactions include goods trade transactions of USD1.456 billion and services trade transactions USD1.31 billion. Meanwhile, investment and tourism transactions each recorded a value of USD5.55 billion and USD170.5 million.

In this exhibition, the countries with the most transactions were Saudi Arabia, amounting to USD417.19 million (30.45%) followed by Japan with USD142.75 million (10.42%); United Kingdom USD118.45 million (8.65%); India USD98.39 million (7.18%); and Egypt with USD80.46 million (5.87%). The most desirable products were processed foods amounting to USD434.51 million (31.72%); chemical products USD143.36 million (10.47%); palm oil USD132.5 million (9.67%); fishery products USD64.45 million (4.70%); and paper and paper products amounting to USD54.71 million (3.99%).

For the purchase mission, during the implementation of the 33rd TEI there were 78 trade agreements with total contract value of USD6.52 billion. This value consists of investment transactions, products, tourism services, and worship trips. This value increased sharply compared to the previous year's USD231.87 million.

The trade agreement originated from 29 countries, namely South Korea, Australia, Saudi Arabia, Belgium, France, Austria, China, Netherlands, Spain, Mexico, Thailand, Chile, Singapore, Malaysia, United States, Philippines, Brazil, United Kingdom, Germany, Egypt, Italy, Hong Kong, the United Arab Emirates, Iraq, Jordan, Nigeria, Zimbabwe, Taiwan, Palestine and Japan.