Trade Expo Indonesia closed with temporary transaction of 2.94 bln USD

Jakarta (Indonesia Window) – Trade Expo Indonesia (TEI) in an offline manner was closed on Sunday, Oct. 23, 2022 with a potential temporary transaction of 2.94 billion US dollars.

The transaction value is expected to increase, considering that the implementation of TEI 2022 will continue to take place online until Dec. 19, 2022 through the website www.tradexpoindonesia.com, Indonesia’s Minister of Trade Zulkifli Hasan said at a press conference at the International Convention Center (ICE), in Tangerang city, Banten province, on Sunday (Oct. 23).

“The results of the 37th TEI, which was held offline on 19-23 October 2022, managed to record a potential temporary transaction of 2.94 billion US dollars or worth 45.8 trillion rupiahs. The value of this transaction will still increase, considering that TEI 2022 will continue to take place online until December 19, 2022. We should be grateful for this achievement in the midst of challenging economic conditions,” Zulkifli said.

The minister also expressed his appreciation to all Indonesian representatives in accredited countries, as well as exporters and their trading partners who have attended and actively participated in the 37th TEI event offline.

The implementation of Trade Expo Indonesia is one of the concrete steps of the Ministry of Trade in increasing market access for Indonesian products to the global market, he said, adding that the temporary potential transaction of 2.94 billion US dollars came from goods and services transactions worth 2.83 billion US dollars and investment of 111.5 million US dollars.

The ten largest countries that carried out trade transactions during the 37th offline TEI were India with a total transaction of 871.1 million US dollars, followed by Japan (568.9 million dollars), the United States (197.3 million dollars), Malaysia (181 million dollars), Egypt (167.5 million dollars), Vietnam (121.9 million dollars), the Philippines (120.1 million dollars), Saudi Arabia (112.4 million dollars), Italy (82.9 million dollars), and China (75 million dollars).

The 10 products most in demand at the 37th TEI are palm oil with a total transaction of 577.2 million dollars or 20.43 percent, paper and paper products (380.8 million dollars or 13.48 percent), agricultural products ( 361 million dollars or 12.78 percent), coal (340 million dollars or 12.03 percent), processed foods (277.2 million dollars or 9.81 percent), wood products (189 million dollars or 6.7 percent), chemical products (147.3 million dollars or 5.21 percent), furniture (137.7 million dollars or 4.87 percent), electronics and electrical equipment (74.8 million dollars or 2.65 percent), and spices (68.1 million dollars or 2.41 percent).

In terms of visitors, according to the minister, the exhibition which was attended by 795 business people managed to bring in 3,226 buyers from 187 countries, and was attended by 27,063 visitors.

Zulkifli Hasan added that the implementation of the Jakarta Muslim Fashion Week (JMFW) 2023 which was held in conjunction with TEI also gained results, by booking a total transaction of 13.2 million dollars.

“This is proof that our Muslim fashion products are in demand by the international market,” said Zulkifli, who also appreciated all those who have taken part in making the 37th TEI and JMFW a success.

In the future, in welcoming 2023 which would still be overshadowed by global challenges, Indonesia needs a breakthrough in efforts to increase non-oil and gas exports, including to non-traditional markets, the minister said.

“Global uncertainty must not weaken us. I believe that no matter how tough the situation is, there is always an opportunity for optimistic people. Hopefully we can continue to improve the collaboration and cooperation that has been well established. We are optimistic that the target of 10 billion US dollars can be achieved on December 19, 2022, in the midst of a challenging situation,” he said, calling for hard works of all parties, including trade representatives abroad.

Reporting by Indonesia Window