First Day Of Trade Expo Generates $178.7 Million

Jakarta (Antara Bali) - The first day of the largest export exhibition, Trade Expo Indonesia (TEI) 2016, recorded US$178.7 million in total transactions, generated from the Trade Ministry's buying mission program.

"Transactions have started accumulating during the first day of the expo and are not limited to those generated by the buying mission. Some transactions were made at the expo by those who attended the event and were interested, bringing the total to $200,000," said National Export Directorate General from the Trade Ministry Arlinda when questioned during TEI 2016 in Jakarta, Wednesday.

Arlinda noted that other than trade contracts being signed between Indonesia and potential international buyers, direct sales had been made each day.

"Most transactions are for products, which is why we should be proud of our local goods," she remarked.

She further explained that the most sought-after products include anti-fatigue mats, floor mats, cutting boards, modular tiles, furniture, food and beverages, seafood, essential oils, and coal.

During the first session of the buying mission, a contract worth $97.2 million was signed, while a contract worth $69.3 million was signed during the second session.

An additional coal purchase contract from Thailand, worth $12 million, and a contract for food and beverage products from Hungary, worth $200,000, were also signed.

"Malaysia signed the most purchase contracts during the second session of the buying mission on the first day of the expo. The total value of the signed contracts with Malaysia reached $58.6 million," she said.

Other than trade transactions, Arlinda added, there were also talks on investment plans in Indonesia.

The Trade Ministry will facilitate the meeting between potential investors and the Capital Investment Coordinating Board and other interested parties.

One of the potential investors who showed interest in investing in the country was Japan.

A company from Japan is likely to invest the capital funds needed for the development of organic rice, the fisheries sector, and the recycling system of old vehicles.

"There are plans for investment in power plants, and we will get them in contact with the Capital Investment Board. Japan is also interested in investing in the organic rice commodity, fisheries, and old vehicle recycling system. Some entrepreneurs are also looking at the services sector," she stated.

Trade Expo Indonesia is part of the government's efforts to increase exports by inviting potential buyers from both traditional and non-traditional countries.

More than 15,000 participants are attending the event in 2016.

This year, the expo is themed "Indonesia: Source of Natural and Creative Products" and is exhibiting various products that demonstrate creativity and design innovation.

These products are expected to boost the emergence of diversity in the export market. (WDY)