2023 Trade Expo Indonesia Seeks Over $15b in Transactions

Jakarta, Indonesianpost.com – The 2023 Trade Expo Indonesia, commonly shortened as TEI, is seeking to post transactions worth more than $15.83 billion or higher than what it achieved last year.

The TEI, which the government claims to be Indonesia’s largest annual trade fair, gives the country’s export-oriented producers and small-sized enterprises a chance to showcase their products to international buyers.

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Data shows the transactions booked at the expo surged more than twofold from $6.06 billion in 2021 to $15.83 billion in 2022. And Indonesia has set quite an ambitious goal for this year’s expo which is slated for this October.

“We posted $15.83 billion in transactions at the 2022 TEI, so we should aim higher this year. But we need to work in concert,” Trade Minister Zulkifli Hasan said when launching the expo on Monday. 

Government data shows that the deals the expo amassed in 2022 mostly came from goods transactions ($15.28 billion). Followed by investment deals ($551.5 million), and business matching ($204 million). Service remittances recorded at last year’s fair reached $843,000. The 2022 TEI also saw the signing of trade contracts worth a whopping $12.7 billion with buyers from 31 countries.

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The government also reported that China made the largest transactions at the 2022 TEI, reaching $10.78 billion. India came second with $1.5 billion in transaction deals. Japan became the third largest contributor to last year’s transactions with $843.96 million.

The offline exhibition is set to take place on Oct. 18-22 at the Indonesia Convention Exhibition (ICE) in BSD. However, the exhibition will still continue virtually until Dec. 18.