Indonesian Ambassador to South Korea Thanked BNI for Helping Indonesian MSMEs Enter South Korean Markets

JAKARTADAILY.ID – PT Bank Negara Indonesia, or BNI, brought positive contributions to the Imported Goods Fair 2022 organized by the Korea Importers Association, or KOIMA. 

The Imported Goods Fair, which was held from June 23 to 25 at Coex Seoul brought Indonesian Small and Medium Enterprises into the South Korean market. 

Moreover, the event for global-level MSME players recorded several potential orders for food and beverage products reaching US$546,000. This figure can still increase because several business actors are still communicating and in the negotiation stage with potential buyers.

The Indonesian Ambassador to the Republic of South Korea Gandi Sulistiyanto said that at this event the Indonesian Pavilion brought 19 MSME partners assisted by BNI in the Xpora program and 5 food and beverage businesses to participate and promote superior products such as wooden furniture and decorations, silver jewelry, pearls and cosmetics, coffee and food products.

"Of course, this is very positive to support the sustainability of domestic Micro, Small and Medium Enterprises (MSMEs) to answer the growth potential, especially in South Korea," he said in a press release published on BNI Website, Sunday, July 10, 2022.

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In the event, which was supported by BNI, the Indonesian Ministry of Trade, and the Indonesian Embassy in Seoul, Gandi continued, it was also recorded that there were at least six businessmen doing online business matching with Korean importers, one of which is the largest retail company in Korea.

In this event, a Memorandum of Understanding (MOU) was signed between BNI and KOIMA by BNI's Consumer Business Director Corina Leyla Karnalies with KOIMA's Executive Vice Chairman Kim Young-Sun.

The signing of this MOU includes cooperation in business matching programs and the exchange of information related to Indonesian exporters and South Korean importers.

Corina said that South Korea has a large market potential for Indonesian MSME products, considering that 82 percent of South Koreans live in urban areas and have the longest life expectancy.

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She admitted that the collaboration between BNI, KOIMA, and the Ministry of Trade in the IGF 2022 event had a direct impact on Xpora customers. Currently, BNI is starting to receive many requests from KOIMA members to do business matching during the exhibition.

"This is an effort to create many investment opportunities abroad, increase the potential for new jobs for the people of Indonesia, and encourage domestic MSMEs to enter the international market, while at the same time attracting a lot of potential investment from abroad. We also provide capital facilities for investors. diaspora SMEs," she concluded.

It is known that BNI has succeeded in recording export volume growth from January-May 2022, with an annual growth of 30.62 percent.