Trade Minister Zulkifli Hasan explained that this is one of the directions from President Joko Widodo (Jokowi) to the National Export Increase Task Force that was established in September 2023 through Presidential Decree Number 24 of 2023.
"The president's direction to the task force is to substitute the main export destination countries by working on new markets, non-traditional markets, such as India, ASEAN, Africa, and Latin America," he remarked at a meeting with Commission VI of the House of Representatives (DPR) here, Monday.
Hasan explained that the task force is also responsible for accelerating the completion of negotiations on comprehensive economic partnership agreements, especially the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA).
To boost exports, the government is also encouraging an increase in competitiveness, identification, and mapping of the potential of export products in Indonesia.
"Information on market potentials must be accessible to Indonesian exporters, and it must be ensured that Indonesia Trade Promotion Center (ITPC) and the trade attachés are mobilized because their role is very important," he remarked.
At the meeting, the minister explained that the total value of Indonesia's exports for the January-October 2023 period stood at US$214.41 billion, down 12 percent, from US$244.06 billion during the same period last year.
Cumulatively, the recorded value of non-oil and gas exports during the January-October 2023 period reached US$201.2 billion.
"The biggest decline occurred in the mining sector and others, namely 20.8 percent, which was contributed by the decline in coal exports," he remarked.
Hasan said China, the US, and India are still the countries that contributed significantly to Indonesia's total export value, at 25.42 percent, 9.5 percent, and 8.17 percent, respectively.
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Translator: Farhan Arda, Raka Adji
Editor: Azis Kurmala
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