Huge Trade Potential in Central, Eastern Europe: Trade Minister

    Antara - 08 October 2021 18:51 WIB
    Huge Trade Potential in Central, Eastern Europe: Trade Minister
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    Jakarta: Trade Minister Muhammad Lutfi believes huge potential exists for trade between Indonesia and Central and Eastern Europe that can drive the nation's exports.

    "Nations in Central and Eastern Europe are some of Indonesia's potential trading partners. As a matter of fact, some of them were recorded to be the nation's top 30 primary export destinations," the minister noted in a statement here on Friday.


    During the Indonesia Central and Eastern Europe (INACEE) Business Forum 2021held in a hybrid format, Lutfi deemed that the business forum activity offered an important momentum to intensify economic relations with countries in Central and Eastern Europe.

    "We asserted the Indonesian government's commitment to strengthening trade cooperation with those regions once more. I encourage entrepreneurs in Central and Eastern Europe to further explore business in Indonesia," he expounded.

    During the January-August 2021 period, Indonesia's export value to Central Europe grew about 23.6 percent (YoY), reaching US$2.52 billion.

    Meanwhile, the export value to Eastern Europe rose by 58.07 percent (YoY), with the primary export products being rubber, steel, palm oil and its fractions, copper ore, tin, footwear, wood, and charcoal.

    Within the forum, the minister also invited participants to partake in the 36th Trade Expo Indonesia (TEI) Digital Edition to be held online for 14 days from October 21 to November 4, 2021, while a product showcase will be organized until December 20, 2021.

    The INACEE Business Forum is a series of trade, investment, and tourism promotional activities that aligns with the Indonesia-Latin America and Caribbean Business Forum (INA- LAC) 2021 and Trade Expo Indonesia 2021.

    The INACEE Business Forum comprises a business seminar and business matching. This business seminar activity hosts several panelists from Indonesia as well as Central and East Europe.


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