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TEI-DE 2021 attains USD6.06 billion, the Ministry of Trade gives huge applause

Heaptalk Team, news . 23 Dec 2021
The Closing of TEI-DE 2021

Heaptalk, Jakarta — Since its first opening on October 21st, 2021, the 36th Trade Expo Indonesia – Digital Edition (TEI-DE) has recorded a transaction of USD6.06 billion. The number is reported to exceed its prior target of USD1.5 billion. In response to the success, the Minister of Trade, Muhammad Lutfi delivered his appreciation towards the achievement.

“This attainment is so elated because it has exceeded the previous target that has been set, namely by USD1.5 billion.” stated the Minister of Trade Lutfi in the closing of the 36th TEI-DE 2021 on Tuesday (21/12).

Lutfi also added that today’s attainment is considered an advantage for the nation. He also delivered that the momentum should be maintained to, at least, achieve the same amount as the current one, namely closing profit to around USD34 million. The Minister believed that if this innovative expo is performed consistently, counting from December, apparently the archipelago will receive a surplus to about USD35 million.

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During the expo, the transaction volume from the foreign buyer was recorded to reach USD3.54 billion. The biggest export was contributed from five countries, consist of China (USD1.68 billion or 27.8%), Egypt (USD560.2 million or 9.24%), Brazil (USD285.8 million or 4.71%), Japan (USD252.6 million or 4.17%), and India (USD204.3 million or 3.37%).

The appearance of these five countries concerning their transaction volume is inseparable from Indonesia’s Trade Representative overseas who actively promotes TEI-DE through several programs, specifically buyer assistance for Indonesian products, help desk, and business forum.

Based on the Ministry of Trade’s data, several products that succeeded to attract the market’s interest during the expo were dominated by farming, chemical, and palm oil products that reached USD792 million (13.06%) and USD316.7 million (5.22%), and USD307.8 million (5.08%) respectively. Moreover, supplement and herbal products, as well as paper and processed paper products, also delivered transaction volumes of USD300 million (4.95%) and USD298 million (4.92%).

TEI-DEI 2021 has attracted 32,030 visitors, with total participants of 8,220 buyers from 136 countries. In more detail, 3,721 buyers are indicated coming from abroad while the rest, namely 4,499, are local buyers.

Joined by 834 merchants, the international trading expo was grouped into eight categories, including manufactured products, digital lifestyle and service; medical and healthcare; renewable energy; food and beverage products; living comfort and amenities; fashion and beauty products; and halal product.

From the success, the Authority mentioned that the moment has demonstrated the tremendous transformation in Indonesia’s trading industry. According to Lutfi’s statement previously, the archipelago is known to only sell raw material and semi-finished goods. But at the present time, the expo has proven that Indonesia is able to market industrial and high-tech commodities. For this vast leap, the 36th TEI-DE is claimed as the most successful TEI in history. (WLN)