Indonesian Trade Minister opens Muslim LifeFest 2024, hoping foreign trade increase  

Foreign trade barriers have been resolved through trade agreements, to make it easier for the Indonesian business actor to ship their products including meat.

 

Tangerang, Banten (Indonesia Window) – Indonesian Trade Minister Zulkifli Hasan officially opened the Muslim LifeFest 2024 which was held simultaneously with two other events, namely Muslim EduFest and Jakarta Halal Expo and Conference (JHEC), at the Indonesia Convention Exhibition (ICE) in Tangerang city, Banten province, Friday.

“Islam is rahmatan lil ‘alamin, bringing goodness to all. That’s why I am happy with an agenda like this which aims for the Indonesian economy to continue to advance and develop, so that it (the coutry) is not inferior to other countries,” the Indonesian Trade Minister said when delivering his opening speech at the event organized by the Indonesian Muslim Entrepreneurs Community (locally known as its abbreviation KPMI).

Furthermore, he also appreciated the three-day event (August 30 – September 1) for featuring the Muslim EduFest education and trade exhibitions, in one time and one place.

“Here we can enjoy culinary, and there is education about sharia. The key to development is education. With this event, we are busy and focused on economic growth, and developing Micro, Small and Medium Enterprises (MSMEs),” he said.

Zulfikli further said that the government is resolving a number of obstacles and challenges in increasing foreign trade. “These foreign trade obstacles are resolved through trade agreements to make it easier for business players to send their products, such as meat”.

According to him, ASEAN member countries, such as Malaysia, the Philippines and Vietnam, as well as South Asian countries, including Bangladesh, Pakistan and India, provide a large market for Indonesian products.

“The Middle East is relatively difficult because foreign products have entered from China and Taiwan,” the Indonesian Minister of Trade said, while expressing his optimism that next year Indonesia’s foreign trade is expected to reach a target of 7-8 percent.

On that occasion, he encouraged business players to participate in the Trade Expo Indonesia (TEI) which will be held on October 9-12, 2024. “You all must participate because this event is attended by tens of thousands of visitors, and business people from all over the world,” Zulkifli noted.

Three events

On the same occasion, in his remarks, Chairman of KPMI, Rachmat Sutarnas Marpaung, pointed out that Muslim LifeFest 2024 which has been held since 2019, helps Indonesian business players expand their business markets.

“This year, with 280 booths and 186 brands, Muslim LifeFest presents many new programs, which are also supported by Indonesian influencers and celebrities,” he said.

“There is a ‘Preloved for Palestine’ program that collects donations for Palestine from the sale of goods donated by the community. In addition, there are 20 Tanah Abang (the largest market in Southeast Asia, especially in textile and textile products) merchant booths that exhibit their textile products,” Rachmat explained.

Meanwhile, this year’s Muslim EduFest is holding a number of event programs, one of which was an inter-school competition, such as coding and others, which was attended by teachers and students.

Furthermore, related to the development of foreign trade, the Head of the KPMI explained that eight countries, including Saudi Arabia, Japan, Malaysia, and the United Arab Emirates, participated in the Jakarta Halal Expo and Conference (JHEC) which are occupying 42 booths.

“During JHEC there is also business matching that brought together Indonesian business players with buyers from abroad. Previously, they had met in online business matching,” Rachmat said.

With a composition of 25 percent education exhibition, 20 percent culinary, 30 percent fashion, and others in the form of multi-product exhibitions, Muslim LifeFest 2024 together with Muslim EduFest and the Jakarta Halal Expo and Conference for three days is expected to attract at least 40,000 visitors.

Appreciation and positive responses for Muslim LifeFest were also extended by the Acting Executive Director, Executive Management of the National Committee for Sharia Economics and Finance (locally known as its abbreviation KNEKS), Dr. Taufik Hidayat.

“The total trade in Indonesian halal products in the January-October 2023 period reached 53.43 billion US dollars, and this figure continues to increase,” he said.

The growth of the halal sector in the country can also be seen from the increase in the value of the sharia capital market which dominates this sector.

A recent report by the Indonesia Stock Exchange (IDX) stated that the value of Indonesia’s capital market capitalization (market cap) reached 11,692 trillion rupiahs as of March 15, 2024, or an increase of 0.2 percent year to date (ytd) compared to 11,674 trillion rupiahs at the end of 2023.

“The MSME capital sector has also increased, reaching 161.7 trillion rupiahs during the January-March 2024 period,” Taufik noted, adding that as many as two million MSMEs have obtained halal certificates to fulfill the mandatory halal program until October this year.

He hoped that Muslims in Indonesia not only become producers of halal products, but also consume them in accordance with Islamic law.

*1 U.S. dollar = 15,477 rupiahs

Reporting by Indonesia Window