The Jakarta Post
In response to shrinking bilateral trade with Japan, the Trade Ministry plans to conduct a trade mission to the East Asian nation from Nov. 28 to Nov. 30.
The trade mission will promote Indonesian products and services as well as open up opportunities for local companies to cooperate with Japanese counterparts in the retail sector.
As many as 21 companies producing a wide range of products, such as processed food, herbal products, textiles and other manufactured items, will join in the event.
“Through this trade mission, it is our hope that Indonesian businesspeople will be able to boost the exports of many commodities, whether those that have been available in Japan before or not,” Trade Minister Enggartiasto Lukita said in a statement on Sunday.
The trade mission is a follow up to the minister’s meeting with the Japan External Trade Organization (JETRO) on Aug. 10.
The move is crucial as two-way non-oil and gas trade between Indonesia and Japan over the 2012-2016 period dropped by 14.7 percent, according to data from the Central Statistics Agency (BPS).
Nevertheless, from January to September, bilateral trade rose by 11.63 percent to US$23.8 billion from a year earlier, with Indonesia posting a $2.5 billion surplus.
Indonesia’s exports to Japan include coal, copper, nickel, shrimp, paper products, palm oil derivatives, furniture, coffee and tires.
Japan is ranked third as Indonesia’ main export destination in addition to being the second largest foreign investor in Southeast Asia’s biggest economy in 2017. (dea/lnd)