Indonesia Eyes New Export Markets in Latin America, Middle East

TEMPO.CO, Jakarta - The Indonesian government is determined to encourage the expansion of export destinations in anticipation of an economic slowdown. 

“Looking at the trend, with the prediction of global economic slowdown and declining global trade, we need to pursue exports further,” Secretary of the Coordinating Ministry for Economic Affairs, Susiwijono Moegiarso, said after the Investortrust Economic Outlook 2024 event at Artotel Suites Mangkuluhur in Jakarta on January 25.

He explained that one of the efforts is to map non-traditional export markets. The government has targeted at least 12 potential countries in Latin America, Africa, South Asia, and the Middle East.

“We are sorting them out, [the new markets] are basically outside of the top five existing markets: China, America, Japan, India, Singapore, and Korea, which are the traditional markets,” Susiwijono outlined.

Additionally, the government was exploring further trade cooperations that have been established, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the Regional Comprehensive Economic Partnership (RCEP), and active cooperation with other countries members of the Organization for Economic Cooperation and Development (OECD).

This is in line with the establishment of the National Export Acceleration Task Force under the Presidential Decree (Keppres) No. 24 of 2023. “We are targeting this in the middle of next month, February 2024, as Coordinating Minister for the Economy Airlangga Hartarto is the head of the Task Force,” Susiwijono concluded.

DEFARA DHANYA PARAMITHA

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