Trade Expo Indonesia Concludes with Total Transaction USD 25.3 Billion

October 25, 2023 12:06 AM AEDT | By Cision

Trade Expo Indonesia Concludes with Total Transaction USD 25.3 Billion — Image source: Kalkine Media

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JAKARTA, Indonesia, Oct. 24, 2023 /PRNewswire/ -- Officiating the closing of offline trade fair of the 38^th Trade Expo Indonesia (TEI) on Sunday 22 October 2023 at Indonesian Convention Exhibition (ICE) at Tangerang, Banten Province, Trade Minister Zulkifli Hasan proudly announced that the total transaction value of the 5-day Business-to-Business event recorded USD25.3 billion or far above the preset target of USD11 billion. The online trade show of TEI continues until 18 December 2023 at www.tradexpoindonesia.com. TEI is the largest trade fair hosted by the Indonesian Ministry of Trade in collaboration with the Indonesian Chambet of Commerce and Industry (KADIN) as the strategic partner, Debindomulti Adhiswasti as the event organizer and PR Newswire as the international media partner.

Zulkifli Hasan - Indonesian Minister of Trade speaking to the press

"Praise be to God, amidst global economic slowdown, the total transaction value at the moment has reached USD 25.3 billion or IDR40.5 trillion," said the minister. The temporary record of transaction consists of MoU signing worth USD 18,.31 billion, daily transaction USD 4.17 and business matching USD 18.90 million. In addition, investment transaction reached USD 2.81 billion for healthcare and education cooperation with China.

Trade Minister Zulkifli Hasan disclosed further that top ten transaction values by country consist of Malaysia USD 6.29 billion (27.95 percent), India USD 6.23 billion (27.68 percent ), China USD 5.58 billion (24.82 percent), Vietnam USD 811.28 million (3.61 percent), Netherlands USD 696.28 million (3.09 percent), Egypt USD 591.72 million (3.09 percent), Philippine USD 526.95 million (2.34 percent), United States USD 423.7 million (1.88 percent), Japan USD 330.89 million (1.47 prcent), and United Arab Emirate USD 295.84 million (1.31 percent).

By products, the top ten achievers consist of coal USD 13.26 billion (58.93 percent), chemical and organic products USD 2.92 billion (12.98 percent), strategic industry products USD 2.73 billion (12.18 percent), electronic products USD 612.32 million (2.72 percent), processed food USD 449.88 million (2.00 percent), agricultural products USD 407.43 million (1.81 percent), paper and paper products USD 382.85 million (1.70 percent), coffe and tea USD 370.39 million (1.65 percent), jewelry USD 280.44 million (1,25 percent), as well as fishery products USD 164.19 million (0.73 percent).

Also hosted by the Trade Minister alongside TEI 2023, the Jakarta Muslim Fashion Week (JMFW) 2024, running on 19--21 October 2023 booked transaction value of USD 20.1 million (IDR 330 billion).

"JMFW 2024 shows that our Moslem fashion products have drawn strong interests from international markets, and we have to maintain the ecosystem in such a way that our domestic market be competitive against imported fashion products ," said Trade Minister Zulkifli Hasan. He continued saying that stronger collaborative efforts are required to further increase Indonesian export performance of non-oil-gas products towards the target achievement of Advanced Indonesia 2045.

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