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Jakarta Post

Egypt makes largest investment commitments during TEI expo

  • Eisya A. Eloksari

    The Jakarta Post

PREMIUM
Jakarta   /   Mon, October 28, 2019   /  02:14 pm
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President Joko “Jokowi” Widodo (left) officially opens the 33rd Trade Expo Indonesia at the Indonesia Convention Exhibition (ICE), BSD City, Tangerang, Banten on Oct. 16.(The Jakarta Post/Seto Wardhana )

Despite the unfavorable global economic conditions, business transactions recorded at Indonesia’s recent international trade expo exceeded the initial target thanks to a sharp increase in investments made during the annual event. Trade Minister Agus Suparmanto said in Jakarta on Friday that the total value of business transactions reached Rp 153.38 trillion (USD$10.96 billion) during the 33rd Trade Expo Indonesia (TEI), which was held at the Indonesia Convention Exhibition (ICE), BSD City, Tangerang, Banten from Oct. 16 to 20. The amount, which represents a 29 percent increase from Rp 127.33 trillion last year, exceeded the initial target of Rp 137 trillion. It consisted of $9.29 billion in investment commitments, $1.54 billion in transactions in trade in goods and $120 million in transactions in trade in services. Investment commitments rose sharply by 67.44 percent from ...