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Sunday, 20 October 2013, 10:30 HKT/SGT

Source: Indonesian Ministry of Trade
Trade Expo Indonesia (TEI) 2013 Day Three Transactions Exceed Targets

JAKARTA, INDONESIA, Oct 20, 2013 - (ACN Newswire) - Transactions through the third day Trade Expo Indonesia (TEI) have totaled USD 1.33 billion, or 66.5% of the targets set for the five day expo. Transactions today included investment projects of the Trade Investment Forum (TIF) with a value of US $1 billion from investors in 9 countries for 16 projects, including mining, manufacturing, textiles, ceramics, tires, processing drinking water and agriculture, as announced by TEI 2013 Chairman Gusmardi Bustami. "With two days remaining at the TradExpo, we are very optimistic this year can reach total transactions set out in the targets," he added.

Products that attracted buyers during the third day were textiles and textile products, essential oils, food products and beverages, machinery, coffee, furniture, handicrafts, footwear, agricultural products and jewelry and accessories, said Gusmardi. In the services sector, investments and skilled labor in mining and construction also recorded sizeable transactions. By country, buyers come from South Africa (15.9%), Malaysia (9.8%), Saudi Arabia (6%), Nigeria (5%), and Papua New Guinea (5.31%).

"Today was also saw the signing of the Principal Agreement between PT. Tapestries Interland and K Co., Ltd. of Japan valued at USD 1 million," explained Gusmardi. PT. Tapestries Interland is a producer of natural honey and organic tea products, while K Co., Ltd. is a manufacturer and distributor of consumer goods. In the agreement, K co., Ltd. will become a sole distributor in Japan and enters a joint venture with PT Tapestries Interland to operate a similar company in Japan.

"We are not complacent with this achievement. Future TEI expos are expected to bring further success, both in terms of organization, numbers of participants, numbers of buyers, diversity of participating products and services, as well as the value of transactions. With the necessary cooperation and support from various parties, both government and the business community, we will achieve ever more ambitious goals," said Gusmardi.

While a means of promotion and expansion of international business networks for large corporations, TEI also provides attention and space to Small and Medium Enterprises (SMEs) with export potential, said Gusmardi. "These SMEs play a vital role in the Indonesian economy, and those with export potential are very welcome to reach out to foreign markets through participating in future editions of TEI."

"To increase the number of new export players able to compete in the global marketplace, our country needs to be supported by at least 2% by entrepreneurs and entrepreneurship so that Indonesia's economic growth can be maintained," Gusmardi said.

To encourage economic and trade relations with non-traditional countries, the TEI 2013 Chairman also received a trade delegation led by the Ambassador for Algeria, Ni'am Salim. They discussed increased economic cooperation, given the potential trade between the two countries is very large but not yet optimized. Religious and cultural backgrounds which can be used to promote understanding between the two countries was also central to the discussion.

For more information, please visit http://www.tradexpoindonesia.com/ and http://www.kemendag.go.id/.


Arlinda Imbang Jaya
Head of Central Public Relation
Ministry of Trade
Tel/Fax: +62-21-3860371/+62-21-3508711
Email: pusathumas@kemendag.go.id

Dody Edward
Director of Development of Product Export
Directorate General of National Export Development
Ministry of Trade
Tel/Fax: +62-21-23528643/+62-21-23528653
Email: dody.edward@kemendag.go.id

Topic: Trade Show or Conference
Source: Indonesian Ministry of Trade

Sectors: Trade Shows, Daily News
From the Asia Corporate News Network

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