Minister of Trade urges trade to become a driver for export-oriented investment
The Minister of Trade, Budi Santoso, has expressed the importance of strengthening Indonesian trade as a driver for the influx of export-oriented investment.
According to him, strengthening trade through the expansion of export markets will create new investment opportunities that support the increase of Indonesia’s production capacity. Therefore, wider access to Indonesian export markets will further increase investor attractiveness to make Indonesia a production base and part of the global supply chain.
“Trade agreements do not only facilitate trade, but also enable investment. If trade runs well, investment will follow,” Budi stated in a statement in Jakarta on Friday.
During the opening of the Asian Trade, Tourism, and Economics Council (ATTEC) Global Investment Forum in Jakarta on Friday, Budi noted that the opportunity to strengthen investment through trade can be pursued, one of which is through business forums.
He hopes that meetings between business actors, trading partners, and investors can result in cooperation that strengthens trade while simultaneously encouraging investment realisation.
Indonesia currently has 25 implemented trade agreements, while two agreements are in the ratification process and 13 agreements are still under negotiation.
Trade agreements with partner countries serve as instruments to expand market access, while also creating certainty for the business world in developing trade and investment activities.
In line with efforts to expand trade, the Ministry of Trade is also encouraging more micro, small, and medium enterprises (MSMEs) to enter the global market.
In addition to promoting exports, the Ministry of Trade is also expanding MSME access to the domestic market through cooperation with modern retail.
The Ministry of Trade facilitates MSME products that meet quality and competitiveness requirements to enter modern retail networks, ensuring wider and more sustainable market access.
“Our local products are already widely sold in modern retail. The requirement is that products must be high quality and competitive. If the products meet the standards, HIPPINDO is ready to accommodate them,” he added.