Ministry allots Rp 1.67t for markets, exports

JAKARTA: The Trade Ministry has allocated Rp 1.67 trillion (US$188.71 million), or 69.27 percent of its 2012 budget of Rp 2.4 trillion, to strengthen the domestic market, boost local product competitiveness and diversify export markets.

Recently appointed Trade Minister Gita Wirjawan said on Monday that strengthening the domestic market would be the government’s top priority.

“Indonesia’s huge potential market is our strength to cope with the current global economic uncertainties. Indonesia survived the 2008 crisis due to high domestic consumption,” he said during a meeting with members of House of Representatives Commission VI overseeing trade.

The ministry allocated Rp 395.82 billion, or 16.49 percent of its total budget, to support domestic market development, including increasing quality checks and enhancing distribution. Another Rp 501.67 billion was earmarked for export market diversification drives while Rp 787.33 billion was slated for boosting competitiveness.