Transaction of 2018 Trade Expo Indonesia reaches Rp126.77 trillion

Transaction of 2018 Trade Expo Indonesia reaches Rp126.77 trillion

The signing of the cooperation between the Ministry of Trade and trading partners from four countries on the sidelines of the 2018 Trade Expo Indonesia event in Tangerang, Banten. (ANTARA News/ Sella Panduarsa Gareta)

Tangerang, Banten (ANTARA News) - The transaction of the 2018 Trade Expo Indonesia (TEI) successfully reached Rp126.77 trillion until 12.00 p.m local time.

Minister of Trade Enggartiasto Lukita made the remarks at the closing of TEI 2018 at the International Convention Exhibition Bumi Serpong Damai (ICE BSD) in Tangerang, Banten on Sunday (Oct 28).

"The transaction of TEI 2018 successfully reached 8.45 billion US dollars, equivalent to Rp.126.77 trillion. The transaction exceeded the initial target of 1.5 billion US dollars," Enggartiasto Lukita said in a statement received here on Sunday.

The minister explained, the total transaction value of TEI 2018 consisted of investment transactions of 5.55 billion US dollars, tourism transactions amounting to 170.5 million US dollars, and product transactions totaling 2.73 billion US dollars.

The details of product transactions consisted of transactions in goods and services amounting to 1.42 billion US dollars and 1.31 billion US dollars, respectively.

The product transaction came from the MoU of product purchase mission of 811 million US dollars, direct transactions amounting to 470.65 million US dollars, 85.6 million US dollars in local trade missions, 51.29 million US dollars in business matching, and 680 thousand US dollars in Culinary Exhibitions and Local Food.

"We should be proud of the achievement of this year`s transaction because the transaction exceeded the initial target of 1.5 billion US dollars," Lukita said.

The minister revealed that the products in great demand are products of information and technology, processed foods, chemical products, crude palm oil (CPO), fishery products, and paper products.

Meanwhile, countries with the highest trade transaction value are Saudi Arabia, Japan, Britain, Egypt and the United States.

"This transaction proves that our national products are increasingly recognized for their quality according to the tastes of the export market. This is in accordance with the theme of TEI 2018 " Creating Products for Global Opportunities," the minister added.

Reporting by Sella Panduarsa
Editing by Azis Kurmala, Bustanuddin

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