Jakarta Globe are reporting that the 2023 Trade Expo Indonesia has booked at least USD 25.3-billion in transactions so far as its offline exhibition came to a close over the weekend (22/10/23.)
As many as 3,162-buyers from 114-countries visited the on-site exhibition that took place at ICE BSD in Tangerang from October 18 to 22. However, the number of deals recorded at what the government claims to be Indonesia’s largest annual trade fair will likely increase.
According to Trade Minister Zulkifli Hasan, what the expo posted so far included USD 18.31-billion worth of signed Memoranda of Understanding (MoUs), USD 4.17-million in daily transactions, and USD 18.9-million in business-matching partnerships. Indonesia also secured a USD 2.81-billion investment deal from China in the health and education sectors, report Jakarta Globe.
Malaysia was the top buyer at this year’s expo. As many as USD 6.29-billion of the goods and services transactions came from Malaysia, followed by India (USD 6.23-billion) and China (USD 5.58-billion).
Coal was the biggest seller, say Jakarta Globe, with transactions of coal amounting to USD 13.26-billion, accounting for 58.93-percent of the transactions at the trade fair. Chemical and organic products became the second-most popular commodity after recording USD 2.92-billion in transactions.
The trade fair also included the 2024 Jakarta Muslim Fashion Week aimed to showcase Indonesia’s modest wear potential. This three-day fashion event recorded USD 20.1-million in transactions.
Trade Expo Indonesia posted transactions worth USD 15.83-billion last year, more than double the amount that it booked in the 2021 edition. Last year, most of the transactions came from China, standing at around USD 10.78-billion.
Source: Jakarta Globe
Stock image by Tom Fisk on Pexels
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