Heaptalk, Jakarta — Coordinating Minister for Economic Affairs Airlangga Hartarto is optimistic that Trade Expo Indonesia (TEI) 2023 can record a higher transaction value than the previous year after the covid-19 pandemic has ended. TEI 2023 is organized by the Ministry of Trade for five days on October 18-22 at the Indonesia Convention and Exhibition Bumi Serpong Damai (ICE BSD) Tangerang, Banten.
“In TEI 2022, the transaction value achieved was US$15.83 billion. In 2023, as mandated by President Joko Widodo, I hope that the transaction value can be scaled up considering that we are free from covid-19,” said Airlangga at the opening ceremony of Trade Expo Indonesia 2023 in Tangerang, Banten (10/18).
Simultaneously, Airlangga conveyed that the Ministry of Trade targets the transaction value in TEI 2023 to reach US$11 billion, a rise of US$10 billion compared to the previous year. He voiced, “I am optimistic that the target can be achieved, primarily since the number of participants has increased compared to last year. This year there are 1,193 participants. This year’s target must be higher than last year’s US$15.8 billion.”
China had the largest total transactions
In the previous year, China was the country with the largest total transactions reaching US$10.78 billion, followed by India with US$1.5 billion, Japan US$843.96 million, Egypt US$492 million, and the Philippines US$343 million.
“For this year, the projection is still the same as last year with China recording the largest total transactions. This is due to the good relationship between the two countries, Indonesia and China,” said Airlangga.
Apart from the transaction target, since being appointed to hold the G20 presidency and ASEAN chairmanship, Airlangga claims that Indonesia has gained international trust as proof of its credibility. He stated, “Indonesia is increasingly respected internationally as Indonesia provides certainty and during the pandemic, our supply chain was still running. With a position that is progressively being taken into account, we must be brave in making policies.”
In the midst of diverse challenges, Indonesia was still able to maintain a trade balance surplus 41 times in a row. In September 2023, the trade surplus was worth US$3.42 billion. “This surplus means exports are higher than imports. Statistics Indonesia (BPS) recorded that Indonesia’s exports in September were US$20.76 while imports were US$17.34 billion,” concluded Airlangga. (Translated by Sinta)
