Trade Minister Spills Local Beauty Product Transactions Hit US$1bn
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14 December 2023 18:37 WIB
TEMPO.CO, Jakarta - Indonesian Trade Minister Zulkifli Hasan, popularly known as Zulhas, revealed that local beauty products have been contributing significantly to the country's revenue, as measured by the value of transactions.
“This is a big [amount]. The value of transactions made by this [beauty industry] is almost US$1 billion. That means Rp16 trillion. That's a really big [amount],” Zulhas said in his opening speech at the Jakarta X Beauty Festival event at the JCC, Senayan, Central Jakarta on Thursday, Dec. 14.
However, Zulhas did not elaborate on the transaction period of the local cosmetics. He encouraged cooperation among various stakeholders, including business players. This way, the business ecosystem in the beauty sector can develop well.
“I see that our products are competitive,” he added.
Zulhas claimed that he had visited some countries and compared beauty items such as in the United States, China, and the Middle East, with local products. He concluded that Indonesian products are competitive.
He also acknowledged that the demand for beauty items exceeds the supply, leading to the import of products from other countries. “We need to protect these [local] beauty products from the West and China. The Trade Ministry has issued regulations, and e-commerce sales have been regulated,” Zulhas said.
AMELIA RAHIMA SARI
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