IFEX 2023 targets US$1 billion in transactions and 12,000 buyers from 112 countries, held for four days on March 9-12, 2023 at JIExpo Jakarta.
Heaptalk, Jakarta — The Indonesia Furniture and Craft Industry Association (HIMKI) in collaboration with Dyandra Promosindo presents the Indonesia International Furniture Expo (IFEX) which is held through an offline platform on March 9-12, 2023 at the Jakarta International Expo (JIExpo).
When inaugurating the opening of IFEX 2023, the Coordinating Minister for the Economic Affairs Airlangga Hartarto expressed his support for the growth of the furniture and craft industry, one of which is in the form of financing. Airlangga said the government would ask the Indonesian Export Financing Agency (LPEI) or Indonesia Eximbank to make a roadmap to support the realization of exports worth US$5 billion.
“In terms of craftsmanship, Indonesia is already superior, from the availability of raw materials we are also available and human resources are also ready. Potentially, we are superior and we must continue to encourage this so that we can compete with other countries,” Airlangga said at the opening of IFEX 2023 (03/09). He hoped that Indonesia’s furniture and handicraft industry can become a benchmark industry in ASEAN.
In the last five years, exports of Indonesian furniture products have shown significant growth. In 2021, the export value of the furniture and craft industry rose by more than 27%. Together with the government, HIMKI is targeting exports of furniture and handicrafts worth US$5 billion by the end of 2024, meaning that based on the realization of exports from 2021 to 2024, a minimum growth of 13.4% per year is required.
Meanwhile, Chairman of the Presidium of the Indonesia Furniture and Craft Industry Association (HIMKI) Abdul Sobur is optimistic that this year’s event can be held properly with a transaction target of US$1 billion or around Rp15 trillion. Abdul detailed two types of targeted transactions, namely on-the-spot and exhibition follow-up. On-the-spot transactions are expected to reach US$250 million from 500 participants during the 8 days of the exhibition. Meanwhile, exhibition follow-up transactions are targeted to reach US$750 million.
“Thus, we are targeting a total transaction from IFEX of around US$1 billion or Rp15 trillion. This means 35% of our total national exports, which are approximately Rp50 trillion or US$5 billion,” said Sobur during the IFEX 2023 press conference at JIExpo (03/09).
Targeting 12,000 buyers from 112 countries
Compared to the post-pandemic event in August 2022, this year’s IFEX is distinct with a target of 12,000 buyers from 112 countries. Sobur voiced, “Surely compared to the previous year, it is different as the previous year was a warm-up. The target was not as bold as it is now since, in August, buyers came from only 80 countries. Now there are 112 countries with a target of 12,000 buyers.”
IFEX 2023 occupies all the halls at JIExpo to accommodate more than 500 domestic and international exhibitors to showcase their respective unique, innovative products. The number of exhibitors and the occupied area indicates positive progress of IFEX. This exhibition provides a significant contribution to encouraging the growth of exports of furniture products, considering that the main target is the export market.
“Nowadays is an important momentum to increase the product value and export value of Indonesian furniture. HIMKI will continue to encourage its members, and furniture industry players in general, to increase the added value of their products. The market is still wide open, but the efforts and support of all parties are needed to realize the export value that we are targeting,” concluded Sobur.
