The 37th Trade Expo Indonesia Recorded 100 Transactions worth $1.9 Billion on Its First Day

JAKARTADAILY.ID – The 37th Trade Expo Indonesia (TEI) held at the Indonesia Convention Exhibition (ICE) Bumi Serpong Damai (BSD), Tangerang, recorded 100 trade deal transactions worth $1.19 billion (Rp 18.45 trillion) on the first day.

Indonesian Minister of Trade Zulkifli Hasan appreciated the enthusiasm of exporters and trading partners who had attended and played an active role in the simultaneous signing today.

"I believe that the trust and enthusiasm of trading partners from abroad for Indonesian business actors reflects their great trust in the momentum of 'Strengthening Global Trade for Global Recovery' carried by Indonesia in the 37th TEI," said Zulkifli Hasan in his statement, Wednesday, October 10, 2022.

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The signing of the 100 trade agreements consists of 99 memorandums of understanding (MoU) and one letter of intent (LoI).

Meanwhile, the value of the trade deal of $1.19 billion consisted of trade contracts between Indonesian business actors with buyers from Japan ($411.25 million), Malaysia ($175.89 million), and Egypt ($150.00 million).

Then the Netherlands ($120.11 million), Saudi Arabia ($112.99 million), Italy ($82.95 million), United Kingdom ($62.00 million), United States ($42.00 million), Australia ($11.65 million ), Brazil ($10.00 million), Spain ($10.10 million), Germany ($3.00 million), Bangladesh ($2.00 million), and the Philippines ($3.00 thousand).

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Commodities included in the trade contract include food and beverages, fishery products, paper products, palm oil shells, processed foods, medicines, vegetables, briquettes, palm sugar, coffee, furniture, beauty products, spices, wood products, and motor vehicle tires.

In addition, there are also investment contracts for power supply projects from land to meet shore-to-ship power supply needs.

Minister Zulkifli Hasan also expressed his appreciation to the Indonesian trade representatives, namely the Trade Attaché and the Indonesian Trade Promotion Center (ITPC) in accredited countries.

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"Indonesian trade representatives abroad are committed to continuously improving the performance of expanding Indonesian products in partner country markets so as to increase Indonesia's non-oil and gas exports," he said.

Director General of National Export Development of the Ministry of Trade Didi Sumedi said the Ministry of Trade continues to anticipate various other signings that could occur during the 37th TEI implementation and follow-up efforts after the TEI implementation.