Indonesia Unaffected by WTO Forecast, Official Says

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  • WTO Pangkas Proyeksi Pertumbuhan Perdagangan Global

    WTO Pangkas Proyeksi Pertumbuhan Perdagangan Global

    TEMPO.CO, Jakarta - The World Trade Organization (WTO) recently cut its global trade growth forecast from 4.6 percent to 3.1 percent for 2014. However, the reduced projection will not affect Indonesia.

    Nus Nuzulia Ishak, director general of national export development at the Trade Ministry, said that the Trade Ministry is still optimistic that this year's export target will be achieved. "I think the decreased global trade growth projection will not really affect Indonesia," she told Tempo.

    The optimism is based on WTO's calculation that stated that the decline of the European economy has caused reduced global trade projection. Although Indonesia's exports to Europe has been affected by the decline, in the last few years, the government has pushed to shift export target to other potential regions such as the United Arab Emirates, Africa and Latin America.

    Nus said that exports to the United Arab Emirates' in January to June 2014 have increased by 69 percent, which is why she is confident that this year's export growth target of 4.1 percent to US$190 billion could be achieved.