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Indonesia : Increase Exports to Alternative Markets, Ministry of Foreign Affairs Encourages Indonesian Entrepreneurs to Participate in 2019 Ina-Latamcar Business Forum.

"One of the objectives of Indonesia-Latin America and the Caribbean (Ina-Latamcar) Business Forum 2019 is to identify trade infrastructure barriers and find a solution" said Director of American II Ministry of Foreign Affairs, Darianto Harsono, in the activity "Jabodetabek Entrepreneur Mobilization in preparation for the Ina-Latamcar Business Forum 2019 "in Jakarta, 2 July 2019. In addition to the American Director II, there were 2 (two) presenters from LPEI, namely Rini Satriani, Head of the Indonesian Exim Bank (IEB) Institute Research and Development Department and Nanda Hasrian from the Department of Business, BUMN and National Interest Account (NIA).

The American Director II also stated that the Business Forum activities of the Ministry of Foreign Affairs collaborated with the Indonesian Export Financing Agency (LPEI) to conduct a study to be compiled in the book "Road to Latin America and the Caribbean". The study book is planned to be launched before the Ina-Latamcar Business Forum and will present information on market potential and trade risk levels with 33 countries in the Latin American and Caribbean regions that will benefit entrepreneurs in expanding their business to the region.

While the LPEI expressed its support to employers by providing financial facilities in the form of financing, guarantees and insurance. Especially for SMEs that want to increase the competitiveness and excellence of their export products, LPEI also provides consulting services / capacity building, facilitation, advocacy and knowledge management.

One of the big potential exports to this region is biofuel, said one participant from the Indonesian Biofuel Producers Association. Participants also recommend inviting Biofuel Associations or entrepreneurs from Latin American countries, especially Colombia (Fedebiocombustible) and Peru in the upcoming 2019 Inaugurations.

Some other excellent products that have good prospects for export to the region include vehicles and parts, plastics & plastic goods, textiles & textile products, iron & steel, various chemical products, marine animals, jewelry / gems, wood products, aluminum and inorganic chemicals.

Indonesia's total trade with the Latin America and Caribbean region in 2018 reached US $ 7.6 billion, or around 2.06% of Indonesia's total trade with the world. Meanwhile according to the Oxford Economic report cited by the LPEI, Indonesia's exports to the Latin America and Caribbean region in 2018 only reached 3.58 billion or 1.98% of Indonesia's exports to the world.

The Entrepreneur Raising Activity was attended by 85 participants from 56 companies, representatives of Central KADIN, APINDO and Disperindag of the City of Bogor. Until now, 57 Indonesian companies have registered their participation in the Ina-Latamcar Busines Forum 2019.

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Publication:Mena Report
Geographic Code:0LATI
Date:Jul 4, 2019
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