In a statement on Saturday, he highlighted the government's proactive approach to facilitating Indonesian MSMEs' entry into the global market by organizing various trade forums abroad.
One of the forums, held at the Indonesian Embassy in Washington, United States, successfully recorded an export potential of Rp7 billion (around US$461,700).
The export potential was generated by 13 MSMEs facilitated by the Ministry of Cooperatives and SMEs, spanning sectors such as fashion, furniture (with the largest transaction potential), food and beverages, and startups.
The forum was attended by 120 in-person and 50 online participants, including Indonesian MSMEs, US business associations, and potential buyers.
“This success demonstrates the significant market potential for Indonesian MSMEs in the US. It also proves that our products are of world-class quality and can compete in the global market," Masduki remarked.
"Next, we will prepare a catalog and product samples to send to prospective buyers from the trade forum, along with conducting regular follow-ups," he noted.
He also emphasized the crucial role of aggregators in expanding the reach of Indonesian MSMEs in the US market.
He noted that beyond the Indonesian diaspora, the market potential is wide open through collaboration with Asian importers, particularly members of the Asian American Chamber of Commerce (AACC), who have shown interest in Indonesian products.
Last year, SMESCO successfully facilitated interactions between Indonesian MSMEs and buyers from Japan, Korea, the Netherlands, and Switzerland, according to Masduki.
"This year, we must add one more destination market: the United States," he stated.
He expressed hope that the Indonesian Embassy in Washington, along with other relevant stakeholders, would continue monitoring requests from potential buyers and explore cooperation opportunities with various policymakers.
"Close collaboration between the government, businesses, and banks needs to be continually strengthened to ensure that efforts to expand the Indonesian MSME market into the US have a greater impact," he said.
According to data from the Ministry of Trade, the US is Indonesia's second-largest trading partner. Over the past five years, from 2019 to 2023, Indonesia's exports to the US have increased by an average of 9.89 percent annually.
In 2023, total trade between the two countries amounted to US$34.52 billion, with Indonesia's exports to the US amounting to US$23.25 billion and Indonesia's imports from the US worth US$11.27 billion.
Indonesia's main export products include apparel, footwear, rubber products, electronics, furniture, and seafood.
Related news: Indonesia boosts MSMEs to enhance national economy, global reach
Related news: Indonesia's e-Katalog will boost MSMEs under new government: minister
Translator: Shofi Ayudiana, Yashinta Difa
Editor: Anton Santoso
Copyright © ANTARA 2024
