Trade Minister optimistic of achieving transaction target at TEI 2021

Trade Minister optimistic of achieving transaction target at TEI 2021

Minister of Trade, Muhammad Lutfi, giving a speech at the virtual opening ceremony of the Trade Expo Indonesia Digital Exhibition 2021, originating from Jakarta on Thursday (October 21, 2021). ANTARA/YouTube screenshot

Jakarta (ANTARA) - Trade Minister Muhammad Lutfi has said he is optimistic that transactions at Indonesia's largest trade exhibition, Trade Expo Indonesia Digital Exhibition (TEI-DE) 2021, will reach the target of US$1.5 billion.

"We are optimistic that trade transactions will increase from US$1.3 billion in TEI 2020 to US$1.5 billion in TEI 2021," he remarked while delivering a speech at the virtual opening of the expo on Thursday.

TEI 2021 has received an enthusiastic response from exporters. Booths have been filled by 834 business actors, an increase from last year's TEI, which was attended by 690 business actors, he informed.

More than 2,900 prospective buyers from 105 countries registered online for TEI-DE and this number is expected to continue to rise as the exhibition progresses, the Trade Minister said.

Although the COVID-19 pandemic is still raging, the 36th TEI exhibition has still been held, albeit virtually as a form of adaptation to the pandemic situation, he added.

According to Lutfi, the theme of this year's TEI is "Reviving Global Trade", which encapsulates Indonesia's efforts and strategies to revive global trade. The trade show is also expected to promote Indonesian products in the global market, he added.

For the first time in TEI, Indonesia is also promoting Indonesian halal products and Muslim fashion by providing a special platform for Indonesian halal products as well as launching the Jakarta Muslim Fashion Week, which will be held simultaneously with TEI, Lutfi informed.

"This has been done as an effort to make Indonesia a center for the halal industry and world Muslim fashion industry in the future," he said.

The world market for halal products is very promising—the global Muslim population is estimated to spend more than US$2 trillion in the food, pharmaceutical, cosmetics, fashion, and recreation sectors, the minister noted.

Currently, Indonesia's halal exports have reached US$6 billion, putting it 21st globally in terms of exports, and the nation's Muslim fashion exports are estimated at US$4.1 billion, or equivalent to the top 13 in the world, Lutfi said.

"So, we have to take advantage of this opportunity," he affirmed.

There will be a series of forums during TEI 2021, such as the Trade Tourism and Investment Forum (TTI), business matching, business forum, business counseling, he informed. The Primaniyarta and Primaduta awards will also be presented to the best exporters, he said.

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