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Indonesia targets $1.5bn value transaction with trade expo

The Ministry of Trade Republic of Indonesia has perfected plans to hold the 36th Trade Expo Indonesia (TEI), which aims to increase its value of trade transaction to $1.5 billion, Hendro Jonathan, director of Indonesian Trade Promotion Centre (ITPC), has said.

According to him, this year’s expo tagged ‘Digital Edition’ with the theme: ‘Reviving Global Trade,’ is expected to leap from the $1.3 billion trade transaction recorded in 2020 to $1.5 billion in 2021, and to attract over 1,000 companies and 500,000 visitors.

He said the expo, which is an international-scale exhibition scheduled for October 21 to November 4, 2021, will create a vehicle for promotion, and also create online trade transactions that are effective and efficient.

According to him, “Nigerian businesses can benefit from the Expo by finding hundreds of suppliers in the manufactured products, digital lifestyle, services, medical, healthcare, renewable energy, food, beverage products, living comfort, amenities, fashion, beauty products, and halal products”.

While urging businesses to register to attend the expo, he said that the expo will strengthen partnerships and maintain business continuity with buyers, expand penetration into new markets, build a positive image, and increase the competitiveness of various Indonesian products and services in international markets.

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Jonathan further said that the event will present the concept of a digital catalog that provides flexibility for participants and visitors to display and explore information on various superior Indonesian products”.

“The expo is ready to provide more convenience and comfort for Nigerian businesses to partner through an interactive platform in the e-catalogue format as well as major international trade,” Jonathan said.

Jonathan said Indonesia imports more from Nigeria compare to Nigeria import from Indonesia, adding that Indonesian Statistics Agency, report indicated from January to July 2021, the bilateral trade between Indonesia and Nigeria surpassed $1.23 billion, which represents a more than 25 percent year on year.

Oluwakemi Ajisebutu, vice president, Nigerian-Indonesia Chamber of Commerce and Industry (NICCI) stated that the expo would serve as a platform for businesses involved in the trade and industry value chain to seek collaboration to grow cross sectorial investment.

Ajisebutu said that as a digital edition, the expo would be unique as it would create an opportunity for free trainings for various SMES, access to finance and networking across the industrial sector.

“We are confident that this expo will present tremendous opportunities for Nigerian businesses and it will go a long way to animate trade and commerce in Nigeria,” he said.

Continuing, he said: “The trade and service industries account for a large proportion of economic activities. It boosts tourism, activates knowledge transfer, and enhances partnerships and collaborations.

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