2019 TEI transaction value increases by 29.04 pct, surpassing target

2019 TEI transaction value increases by 29.04 pct, surpassing target

Trade Minister Agus Suparmanto said in a press conference at Jakarta on Friday (25/10/2019). (ANTARA/Sella/AK).

Jakarta (ANTARA) - The 2019 Trade Expo Indonesia (TEI) managed to book a transaction value of US$10.96 billion, or equivalent to Rp153.38 trillion, where the achievement rose by 29.04 percent from that recorded in the previous year.

"The transaction value exceeds the target at about 15 percent. The transaction includes trade, service, and investment. Trade transactions comprise product transactions of $1.54 billion," Trade Minister Agus Suparmanto stated in Jakarta on Friday.

The product transactions comprise goods trading transactions originating from the signing of trade contracts reaching $698.34 million, transactions at exhibition stands amounting to $687.60 million, and local trade missions worth $50.63 million.

In addition, the assessment of trade agreements are worth $67.11 million; Ministry of Maritime Affairs and Fisheries, $10.43 million; the horticultural business forum, $8.78 million; as well as culinary and food, $457.14 thousand.
Related news: Deputy Minister Jerry Sambuaga to improve trade balance

Meanwhile, service trade transactions amounted to $120.08 million and investment transactions worth $9.29 billion.

The trade minister remarked that during the 2019 TEI, Egypt was the country with the most transactions, reaching $270.51 million, or 18.13 percent of the total transaction value, followed by Japan, with $260.01 million, or 17.43 percent; and China, with $201.52 million, or 13.51 percent.

The three most popular products at the event were processed foods amounting to $390.26 million; paper and paper products, $289.64 million; and palm oil, $166.65 million.

For the purchase mission, during TEI 2019, 114 trade agreements were reached, with a total contract value of $3.19 billion, comprising investments, goods, agricultural products, fishery products, cooking spices, and other spices.

Meanwhile, business-matching activities produced 247 potential transactions, with a value of $67.11 million.

Related news: Indonesian Trade Expo day four buying mission reaches US$3.16 billion

Comments