Indonesia looks to South Asian markets to boost exports
Indonesia is targeting non-traditional markets in South Asia such as India, Pakistan, and Bangladesh to boost exports, whose growth is currently slowing, Trade Minister Zulkifli Hasan has informed.
Indonesian Trade Minister Zulkifli Hasan at the opening of the Indonesia Trade Expo, Jakarta, July 10, 2023. (Photo: antaranews.com)
Jakarta (VNA) - Indonesia is targetingnon-traditional markets in South Asia such as India, Pakistan, and Bangladeshto boost exports, whose growth is currently slowing, Trade Minister ZulkifliHasan has informed.
Accorꦛding to the minister, non-traditional markets are countries that haveeconomic potential as market destinations for Indonesia. They include countriesin Latin America, Central and Eastern Europe, Africa, South and Central Asia,and the Pacific.
Speaking after the opening of the Indonesia Trade Expoin Jakarta on July 10, Zulkifli said that the country’s traditional markets areslowing down, therefore, they are trying new breakthroughs, for example, inSouth Asia, which has been non-traditional market to Indonesia.
India, Pakistan, Bangladesh, the Middle East, Africa,and Egypt are potential markets for𝓡 Indonesia's products and Indonesia willexplore the types of products needed by these countries, he added.
Zulkifli emphasised that those countries have hugemarket potential. Africa has 1.4 billion people, South Asia has 2 billion,and the Middle East has 500 million people, the ministry will be working onthis.
Meanwhile, Chairwoman of the Indonesian Employers'Association (Apindo) Shinta W. Kamdani said that exploring newnon-traditional markets is importꦿant for Indonesia since the country hasalready inked several trade agreements, both bilateral and regional.
Shinta acknowledged that the agreements includeIndonesia-European Union (IEU-CEPA), Indonesia-Europe (EFTA), and RegionalComprehensive Economic Partnership (RCEP), which could help open wider access. She highlighted that the country already signed free tradeagreements with Chile and Mozambique. There are also many opportunitieswith these trade agreements for the country to optimise./.
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Indonesian Trade Minister Zulkifli Hasan at the opening of the Indonesia Trade Expo, Jakarta, July 10, 2023. (Photo: antaranews.com) 
