Month: July 2023

Indonesian Minister of Trade Zulkifli Hasan and Egyptian Minister of Trade and Industry Ahmed Samir Saleh signed a memorandum of understanding (MoU) to form a Joint Trade Committee (JTC). The cooperation aims to promote and increase trade cooperation between the two countries. This was revealed by Zulhas during a bilateral meeting between the two ministers in Cairo, Egypt, today. The signing of the MoU was included in the Minister of Trade Mission Zulkifli Hasan series to Egypt, May 14-16, 2023.
“Today, Minister Ahmed and I have signed an MoU for the formation of JTC Indonesia-Egypt,” Zulhas said in a written statement Monday (5/15/2023).
He said efforts to promote and improve trade cooperation between the two countries could be taken by JTC, among others, through the identification and application of steps to increase trade relations, solving problems and trading barriers, as well as the role of a medium of consultation and exchange of trade information. Both countries project JTC to become a medium that can accommodate aspirations and input from the community of business actors in each country.
“I hope that the JTC forum can be utilized optimally to identify the various potentials of increasing trade in the two countries as well as a forum for completing trading obstacles oriented to common interests,” he explained.
He added the formation of JTC based on the leaders’ joint statement of Indonesian President Joko Widodo and Egyptian President Abdel Fatah Al-Sisi during the visit of Egypt’s President to Jakarta on 4 September 2015.
Zulhas said that the total trade in Indonesia and Egypt in January-March 2023 was recorded at US $ 432.90 million, consisting of exports of USD 379.40 million and imports of US $ 53.50 million. Indonesia’s surplus of US $ 325.80 million. In the last five years (2018-2022), Indonesia consistently recorded a trading surplus against Egypt, with a trend of 9.82 percent.
Meanwhile 2022, the recorded total Indonesian and Egyptian trade reached US $ 1.56 billion. Indonesia’s exports to Egypt were recorded at US $ 1.43 billion, and Indonesia’s imports from Egypt were US $ 226 million. Indonesia’s surplus over Egypt of US $ 1.11 billion.
“Indonesia’s main export products to Egypt include palm oil, coffee, coconut, thread, and spare parts. Meanwhile, the main import commodity of Indonesia from Egypt is phosphate mineral fertilizer, dates, figs, pine, avocado, guava, mineral fertilizer, drops resulting from the extraction or purification of sugar, and natural calcium phosphate, “he concluded.
Meanwhile, Ahmed Samir Saleh also welcomed the cooperation. According to him, Indonesia is an important trading partner country for Egypt.
“Indonesia is an important partner country for Egypt. We agree that trade relations must be increased to a higher level,” concluded Ahmed.

May 15, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6722299/mendag-ri–mesir-jalin-kerja-sama-pembentukan-joint-trade-committee)

A neighboring country, Singapore, is now getting a supply of live chickens from Indonesia. This was marked by the first export of 23 thousand live chickens to Singapore conducted by the Japfa Group. The export of live chickens by sea. The chicken results from the cultivation of PT Ciomas Adisatwa in Bintan Regency, Riau Islands, a subsidiary of PT Japfa Comfeed Indonesia Tbk. This export is an important milestone for new shipping options to supply fresh chickens to Singapore by sending live chickens by sea and slaughtered in the destination country.
“With strict requirements from the country, Japfa succeeded in meeting Singapore’s requests and standards. A total of 1,500 tons or around 900,000 live chickens are targeted to be exported to Singapore in 2023. The first delivery of live chickens in the first history is a collaboration between Japfa, the government of Indonesia, Singapore, and other stakeholders, “said the Director of Japfa, Harwanto in a written statement, quoted Sunday (5/14/2023).
Now Japfa plays an essential role in providing food ingredients for people in the Asian region. By promoting high-quality standards, food safety, and corporate governance, Japfa has the capacity to meet Singapore’s food security strategies.
“We are happy to be able to contribute to Singapore’s food security strategies by providing fresh chicken for local consumers,” said the Tan Yong Nang JAPFA Group (Ltd), Chief Executive Officer.
On the other hand, the Director General of Animal Husbandry and Animal Health at the Ministry of Agriculture, Nasrullah, said that this export proves that Indonesian livestock products have good quality and can meet food security guarantees in accordance with international standards.
“As we also know, the potential for the production of national chicken meat in 2022 was recorded as many as 3.67 million tons. This shows that Indonesia is a country that is able to supply the needs of poultry and its derivative products not only for the people of Indonesia but are ready to supply global food needs,” he explained.
He said export feasibility standards were proven by some local and international certifications, such as Avian Influenza (AI) free compartment certificates, veterinary control number certificates (NKV), halal product certificates, and the application of ISO 2200 Quality Issue Management, Hazard Analysis Critical Control Point (HACCP), and Food Safety System Certification (FSSC) 22000. Meanwhile, the Indonesian Ambassador in Singapore, Suryo Pratomo said the export of chickens lived to Singapore as a sign of increasing trade cooperation.
“This export is a milestone that marks an increase in more cohesive trade cooperation between Indonesia and Singapore. This export is also a concrete follow-up of the meeting between the two leaders in the Leaders Retreats last May in Singapore. Previously Indonesia succeeded in exporting frozen chickens and Processed chicken products since June last year, “he said.
Meanwhile, in the Indonesian Trade Attaché in Singapore, Billy Anugrah, in 2022, Indonesia is expected to import 228,000 tons of chicken, both live chickens, chilled or frozen chicken, and processed chicken products. The majority of chickens come from Brazil (51%), Malaysia (24%), the United States (11%), and other countries (14%).

May 15, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6720391/ri-kini-pasok-ayam-hidup-ke-singapura)

Indonesia’s trade balance in April 2023 experienced a US $3.94 billion surplus. The surplus was triggered by a decrease in oil and gas imports. The Central Statistics Agency (BPS) reports that this trade balance surplus is a 36-month-up surplus in a row. The surplus was much higher than in March 2023, which reached US $ 2.91 billion.
Deputy for BPS Statistics and Statistical Information Imam Machdi revealed a surplus due to a lower decrease in imports of exports. Non-oil and gas imports have decreased throughout April 2023 by 22.27% on an annual basis. The development of imports in April 2023, the import value of IDR 15.35 billion or down 25.45% when compared to March 2023. If detailed, oil and gas imports are worth US $2.96 billion or down 1.98% compared to March 2023.
“In the last three years, the changes in April imports have always fallen, the decline in non-oil and gas imports by 29.48% in April because there was a war from several commodities,” said Imam.
This surplus position is higher than the market consensus compiled by the CNBC Indonesia Research Team. A total of 12 institutions estimate that the trade balance surplus in April 2023 will reach US $3.34 billion. Consensus also shows that exports will still be contracted by 19.31% (year on year/yoy) while imports have dropped 7%. For the record, the export value of March 2023 plummeted 11.33% (yoy) but increased 9.89% (month to month/mtm). Imports contracted 6.62% (yoy) but jumped 29.33% (mtm).

May 15, 2023, CNBC Indonesia
(https://www.cnbcindonesia.com/news/20230515103347-4-437319/mantap-neraca-perdagangan-ri-surplus-us-394-m-di-april-2023)

Director General of National Export Development (PEN) of the Ministry of Trade, Didi Sumedi, said that the export target of Indonesian spices could reach US $2 billion or IDR 29.60 trillion (exchange rate of IDR 14.800) in 2024. This target is carried out through the Spice Up The World program according to the mandate of President Joko Widodo (Jokowi).
“This is also an important part of the government program, the mandate of the President, Spice Up the World. This is launched in 2024 we can increase the spices and various kinds of spices to US $2 billion. While we export US $1.03 billion,” He said in the release of spice export products and fast food to Saudi Arabia at PT Pangansari Utama Head Office, Jakarta, Friday (12/5/2023).
For information, Indonesia Spice Up The World is one of the government programs that involve across ministries/institutions in an effort to increase the marketing of Indonesian spices or food products and spices. Through this program, the government also wants to build an Indonesian culinary business in foreign countries. The target in 2024 Indonesia will have 4.000 restaurants abroad. At present, there are already around 1.700 restaurants abroad.
Indonesia is now competing with Thailand in business in the culinary sector. Yet according to Didi, Indonesia is seeded with the presence of more significant natural resources. He also encouraged increased trade with Saudi Arabia. It is planned that billionaires from Saudi Arabia will meet Indonesian representatives on 30-31 May.
“We convey to increase the intensity of trade with Saudi Arabia. On May 30-31, we will do business forums by inviting some big brothers from Saudi. What can be done,” he concluded.

May 12, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6717516/pepet-thailand-ri-incar-ekspor-bumbu-masak-tembus-rp-296-t)