Indonesia Trade Expo Opens with $13.2 Billion in Planned Deals

Indonesia’s Trade Expo opened on Wednesday, October 14, with exporters and buyers from 22 countries set to sign 168 memoranda of understanding valued at $13.2 billion, Trade Minister Budi Santoso said. Detik and Metro TV reported that the signings were scheduled for later that day; RRI subsequently reported that the agreements had been reached. The reported value is for agreements, rather than confirmed completed export sales.

The five-day fair runs through October 18 at the Indonesia Convention Exhibition in Tangerang, near Jakarta. Budi set a $17.5 billion transaction target for the event, according to Detik and RRI. Energy Minister Bahlil Lahadalia, who opened the fair on behalf of President Prabowo Subianto, said last year’s event recorded $22.8 billion against a target of more than $16 billion, Detik reported.

According to Budi, 16,885 prospective buyers had registered, including 8,092 from overseas. Detik and RRI put their countries of origin at 134, while Liputan6 reported 130. Organisers are targeting 1,873 exhibitors and 30,000 visitors, Budi said. The products on display range from food and agricultural goods to manufactured products, furniture and home décor, according to Detik and RRI.

The Commerce Ministry said its overseas trade-promotion offices and trade attachés had approached prospective buyers ahead of the fair. Bahlil also called for simpler export procedures, Detik reported, while describing the government’s policy of processing more natural resources domestically before export.

Budi put Indonesia’s January–August exports at about $193.6 billion and its trade surplus for the period at $7.25 billion, according to RRI. The fair, first held in 1985, is the government’s annual venue for connecting Indonesian suppliers with international buyers, Budi said.