Month: May 2023

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Indonesia’s Participation in Hainan Expo 2023 Strengthens Relations With China

Deputy Minister of Tourism and Creative Economy Angela Tanoesoedibjo conveyed that Indonesia’s active participation in ‘Hainan Expo 2023’ is a form of commitment to strengthen relations with China. Especially, in developing tourism through connectivity and the creative economy.
“The relationship between Indonesia and China in trade and tourism over the past few years has shown a big progress. Where in 2021 alone, we exported goods worth US $ 53.78 billion to China,” she said in a written statement on Thursday, (13/4 /2023).
The ‘Hainan Expo 2023’ itself is one of the largest Consumer Goods product trading products in China which was attended by 65 countries. Indonesia itself became one of the main participants in the exhibition, which took place from April 11–15, 2023. Brands such as Kapal Api and Good Day became one of a number of products that were in the 198 m2 booth.
Angela hopes that Indonesia’s participation can open more opportunities for market expansion and further cooperation between the two countries. Because the contribution of Indonesia’s creative economy to national GDP is the third largest in the world, which is almost 8%, with the main driving force of the culinary, fashion, and craft subsectors.
“Realizing this potential, Indonesia focuses on developing tourism products and innovative, high-quality, high-quality and high-quality creative economy products. And in line with our vision to carry out sustainable economic development,” she said.
Angela explained that during the pandemic there was a paradigm shift, where the perpetrators of Ekraf could reach a wider market with technology. To fulfill this request, business actors must continue to innovate to remain competitive and competitive. Therefore, she continued, since 2020 the Indonesian government has empowered the creative economy’s MSMEs to adapt. Through the proud national movement made in Indonesia, which involves various stakeholders in training, assistance, marketing, and digitalization to support MSMEs.
“As a result, the value of Indonesia’s creative economy exports increased from US $ 18.8 billion in 2020 to US $ 25 billion in 2022,” she added.
Angela also added that at this time Indonesia’s creative economy was focused on the game industry and events through the program to accelerate the development of the game industry, as well as ease of regulation in the licensing of the event.

April 13, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6671354/partisipasi-ri-di-hainan-expo-2023-pererat-hubungan-dengan-china)

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ANOC and Qatar Support Indonesia Title World Beach Games

The Association of National Olympic Committee (ANOC) and Qatar expressed their support for Indonesia’s bid to hold the 2023 World Beach Games in Bali. Chairperson of the Indonesian Olympic Committee (KOI), Raja Sapta Okto, who delivered the statement following the rejection of the Governor of Bali regarding the participation of Israeli athletes at the ANOC WBG, which will be held on the Island of the Gods on August 5–12, 2023.
Okto said that after the dynamics of the participation of Israeli athletes emerged, even to the point of being heard abroad, many showed sympathy and gave support to friendly countries both directly and indirectly. Especially after FIFA revoked Indonesia’s status as the host of the U-20 World Cup.
“I got a response, especially from ANOC, who tried to find solutions so that activities (WBG) could still be carried out and all parties could not be disturbed. Like the first host country, Awbg, Qatar, even provided full support after hearing about the situation that occurred today. Because they want to make sure that the activity can take place well, “Okto said in a press conference at the KOI office in Jakarta on Thursday (6/4/2023).
However, Okto, who had served as the 2016 Olympic Chef de Mission in Rio de Janeiro, stressed that Indonesia must be able to pass this precedent for the ideals of the host country of the 2036 Olympics. Where, Qatar became one of its competitors.
“I have communicated from the beginning with them. They said this competition is not about winning or losing winning but about supporting each other. And that we build with other countries. Like the countries in our regional Southeast Asia, Asian countries, and countries around the world. In relation to ANOC, we will intensively communicate. We are looking for solutions, building communication, and diplomatizing with other countries. That is what I say sports as a unifying medium as well as a media for diplomacy, “Okto said.

April 6, 2023, detikFinance
(https://sport.detik.com/sport-lain/d-6659838/anoc-dan-qatar-dukung-indonesia-gelar-world-beach-games)

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ADB Lowers Indonesia’s Growth Forecast for 2023-2024

          Indonesia’s economy is expected to grow 4.8 percent in 2023 and 5.0 percent in 2024, which would mark a significant slowdown from the 5.3 percent it achieved last year, according to the latest Asian Development Bank (ADB) assessment.
“Booming commodity exports drove growth to 5.3 percent in 2022, making up for modest domestic demand,” ADB country director for Indonesia Jiro Tominaga said on Tuesday as the multilateral development bank presented its Asian Development Outlook (ADO) for April 2023.
Countries like Indonesia that rely strongly on commodity exports benefited from high prices in 2022 as economies reopened following the COVID-19 pandemic and drove up demand for metals, fossil fuels, and other commodities. Meanwhile, the Russian invasion of Ukraine and other geopolitical developments disrupted the supply of some goods and also contributed to a rise in prices. At the same time, Indonesia recorded a strong rebound in domestic consumer spending as mobility restrictions were gradually lifted, which fueled further acceleration of GDP growth.
“Global headwinds in 2023 are projected to cut export growth, although the current account should continue to be close to balance. But because private consumption accounts for a large share of Indonesia’s economy, as consumer spending further normalizes and benefits from the tapering off of inflation, this should put a floor on growth. Investment, however, is likely to remain modest as businesses wait and see,” Tominaga added.
The report, which was published Tuesday, notes that Indonesia’s public finances improved as a result of last year’s solid performance: “The export boom generated windfall revenues that enabled Indonesia to cut the budget deficit below the statutory ceiling of 3 percent of [GDP], one year ahead of schedule.”
While GDP growth held up well in Indonesia last year, in stark contrast to the significant slowdown logged in many developed and some emerging economies, the country was not left unscathed as global inflation accelerated. Consumer prices jumped, particularly in September 2022, when the government hiked subsidized fuel prices to alleviate pressure on the state budget. “Inflation peaked at almost 6 percent in September, way above the central bank’s 4 percent inflation ceiling,” the report states, although it notes that inflation has been moderating since and is “projected to fall to about 3.5 percent by December and to average 4.2 percent in 2023”.
Beyond the short term, the ADB report states that “a concern for the medium- to long-term is that earnings losses by workers and learning losses by children during the pandemic could reduce potential growth”. The ADB was established in 1966 and is owned by 68 member countries, including 49 from Asia and the Pacific. Its assessment for Indonesia comes just days after the World Bank published a statement saying that it anticipated growth in Indonesia and other countries in the region, aside from China, ” to be moderate”.

April 4, 2023, The Jakarta Post
(https://www.thejakartapost.com/business/2023/04/04/adb-lowers-indonesias-growth-forecast-for-2023-2024)