Month: September 2023

The Indonesian government held an Expo Indonesia En Mexico (EIM) exhibition which was held on August 3-6, 2023, at the World Trade Center, Mexico City, Mexico. In the exhibition, Indonesian products succeeded in capturing the hearts of investors in the country with a record of transactions reaching IDR 287 billion. The EIM exhibition is an Indonesian sole exhibition in Mexico which raised the trade, tourism, investment, and culture sectors. The EIM exhibition succeeded in attracting 5,238 visitors. At this event 83 trade matching (business matching) was carried out between exhibitors and buyers/potential investors.
Minister of Trade Zulkifli Hasan said that the exhibition could increase the effect not only in terms of exports, but also opportunities for cooperation between Indonesia and Mexico,
“The integrated exhibition of the trade, tourism, and investment sectors has a multiflier effect, not only on the increase in exports of non -oil and gas products but also provides opportunities for Indonesian investment cooperation and strengthening of the Branding (Branding) of Indonesia in Mexican countries that do not yet have bilateral trade cooperation with Indonesia, “said the man who is familiarly called Zulhas, quoted on Tuesday (8/15/2023).
The Director General of National Export Development Didi Sumedi said that during EIM 2023, four -wheeled vehicles with trademarks Suzuki Ertiga and Mitsubishi Expander attracted many visitors. In addition, many visitors come to directly see the design, features, and interior of the car.
This is in line with the performance of Indonesian non-oil and gas exports with automotive products including spare parts (spare parts) which are one of the 10 main products of Indonesian non -oil and gas exports to Mexico. Other products that are excellent include paper products, yarn, batik, eyelashes, coffee, and food and drinks.
“EIM transaction achievements prove that Indonesian products have strong competitiveness, so that they can be well received by the Mexican market and make this country an expansion of non -traditional markets. This activity is the first step to increase the contribution of Indonesia’s greater exports, especially added value products such as manufacturing industry products, “said Didi
Indonesian automotive products have good competitiveness considering the national automotive industry has implemented 4.0 technology in the production process that makes every production activity more efficient and competitive. The national automotive industry developed is an electric vehicle industry supported by the electric battery industry. The main market share of Indonesian motor vehicle products besides America, Latin is the Middle East, African, South Asia, Oceania, and Australia.
Director of Primary Product Export Development, Merry Maryati expressed his appreciation for good collaboration between all parties. The exhibition was fully supported by the Ministry of Trade and was attended by 51 participants, the Ministry of Tourism and Creative Economy; Ministry of Investment; Central Java Provincial Government, East Nusa Tenggara, West Papua and DKI Jakarta; Small and Medium Enterprises, as well as private companies.

August 15, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6876997/produk-ri-laris-manis-di-pameran-meksiko-bukukan-transaksi-rp-287-miliar)

Indonesia is pushing to join the Organisation for Economic Co-operation and Development (OECD) after President Joko Widodo welcomed an OECD delegation to the Presidential Palace on Thursday. The President emphasized his desire for a seamless and swift path to Indonesian OECD membership. Finance Minister Sri Mulyani Indrawati stated in a press conference on Thursday that Indonesia had officially expressed its interest in becoming a member of the Paris-based forum. She said OECD secretary-general Mathias Cormann had outlined the necessary procedures for membership during the meeting with the President.
“The benefits of membership are significant, as [OECD membership] brings the potential to improve policy and bureaucracy in Indonesia,” Sri Mulyani emphasized.
At the press conference, Foreign Minister Retno L.P. Marsudi told the media that Indonesia’s bid for OECD membership had garnered strong support from existing member countries and would be discussed at a forthcoming OECD council meeting in September.
“If we secure the necessary political agreement [from current member countries], the technical process will be set in motion,” Retno explained.
Highlighting the longstanding nature of Indonesia’s collaboration with the OECD, Retno pointed out that the country had been a key partner of the OECD since 2007. Notably, in 2015, the organization took a significant step by establishing its first Southeast Asian office in Jakarta.
Indonesia and the OECD have executed several cooperative programs, Sri Mulyani added, including economic surveys and policy assessments tailored to the country, all while adhering to OECD benchmarks akin to those used by existing member countries. These policy assessments covered various sectors, including state-owned enterprises (SOEs), taxation, capital movement, public procurement, anticorruption measures and environmental policies. These efforts, according to the finance minister, were found to be in alignment with OECD membership criteria.
“We aren’t starting from scratch,” she asserted. “There have been many [policy] reforms [in Indonesia] that are in line with the OECD’s policy framework.”
The OECD expressed its recognition of the President’s leadership in chairing the Group of Twenty (G20) forum and in implementing reforms for investment and economic development. These measures were deemed highly relevant for the needs of the people, according to secretary-general Cormann, and contributed to the nation’s economic strength.
Institute for Development of Economics and Finance (INDEF) executive director Tauhid Ahmad underscored that Indonesia’s membership in the OECD would give the country high-income status but would not yield any immediate benefits.
The OECD is an intergovernmental organization with 38 member countries founded in 1961 to address various global challenges by facilitating discussions, providing policy recommendations and fostering collaboration among governments and stakeholders. If Indonesia enters the organization, it will become the third Asian nation to do so after South Korea and Japan, and the first in Southeast Asia.

August 11, 2023, The Jakarta Post
(https://www.thejakartapost.com/business/2023/08/11/ri-first-asean-country-to-file-for-oecd-membership.html)

PT Pertamina (Persero) again strengthened itself as the only Indonesian company as well as the only SOE that was included in the list of Fortune Global 500 in 2023. This year Pertamina is ranked 141 rising 82 ranking in 2022 which is in the 223th position. Pertamina It even succeeded in jumping 146 ranking compared to 2021 which came in 287. This ranking increase was in line with Pertamina’s success in posing the highest net profit throughout the company. Pertamina posted a net profit of US $ 3.81 billion or IDR 56.6 trillion, up 86% compared to 2021 of US $ 2.05 billion or IDR 29.3 trillion. Pertamina’s revenue also skyrocketed reaching US $ 84.89 billion or around IDR 1,262 trillion up to 48% compared to the previous year of US $ 57.5 billion.
Pertamina President Director Nicke Widyawati said that what the company achieved was the fruit of the sturdy foundation of the company after the restructuring of the formation of holding subholding. So that all business lines contribute to the Company. Pertamina also increasingly established itself as a world-class energy company.
“Pertamina continues to strengthen its determination to pursue the aspirations of shareholders to become world-class energy companies. This achievement is in line with the target of the company after transformation of business and organizations,” Nicke said in a written statement, Wednesday (9/8/2023).
Nicke added that the company’s positive performance could not be separated from the support of all stakeholders including the government that supported Pertamina to become a world-class company.
“Thank you also to all Pertamina officers who work hard in increasing the competitiveness of the company to be able to take part in better on the international arena,” Nicke added.
Not only firmly perched in the global ranking in the Fortune 500, Pertamina also won the number 2 position globally in the Integrated Oil & Gas Sub-Industry by Sustainalytics with ESG scores of 22.1 in October 2022, which increased from the previous score of 28,1.
Pertamina as a leader company in the field of energy transition, is committed to supporting the Net Zero Emission 2060 target by continuing to encourage programs that have a direct impact on the achievements of Sustainable Development Goals (SDG’s). All of these efforts are in line with the application of Environmental, Social & Governance (ESG) throughout Pertamina’s business line and operations.

August 9, 2023, detikFinance
(https://finance.detik.com/energi/d-6867929/top-pertamina-wakili-indonesia-di-daftar-fortune-global-500)

Minister of Agriculture Syahrul Yasin Limpo released 96 tons of shallots to Thailand with a transaction value of approximately IDR 3.4 billion. The overall export contract value reached 75 containers or equivalent to IDR 73.5 billion. Syahrul said he was grateful because Indonesia could meet domestic needs and exports of shallots when all countries face extreme weather. So far, shallots are called Indonesian mainstay commodities.
“I always say that shallots are our strengths as Indonesian nations, but we must also remember that we are currently facing El Nino who can interfere with the production of production,” Syahrul said at one of the Brebes Brebes Private Exporting Companies on Wednesday (9 /8/2023).
To anticipate these challenges, Syahrul invited all regional leaders both regents and governors to immediately intervene to help farmers who produce. He wants, agriculture continue to advance and become the main line in strengthening the nation’s economy.
“The threat of El Nino is everywhere but we have to intervene to plant various agricultural commodities. We know that the threat of this heat will make the water lack and disrupt productivity. But the initiative of the regents who struggle to accompany farmers can make us able to pass all the challenges that exist, “he said.
Acting Regent of Brebes, Urip Sihabudin expressed his gratitude for the attention of the Ministry of Agriculture who routinely continued to assist Brebes in increasing production through superior seeds, mechanization technology and access to the capital credit credit (KUR) of Agriculture.
“In fact, we were also helped to carry out the shallots festival as the first festival in Indonesia. With this festival the Brebes people began to realize that shallots could be realized through a high -scale form of high economic scale activities,” he said.
Urip added that the production of shallots in 2022 reached 385 thousand tons. While production in July 2023 reached 195 thousand tons. It is estimated, production at the end of this year can reach 388 thousand tons or increase when compared to 2022.
“And of course, it is all part of the joint endeavor, as well as guidance from the Minister and the whole ranks. We are very grateful for what the Ministry of Agriculture is doing to Brebes shallots farmers,” he said.

August 9, 2023, detikFinance
(https://finance.detik.com/berita-ekonomi-bisnis/d-6868044/bawang-merah-ri-tembus-pasar-thailand-total-transaksi-rp-73-miliar)