Food and beverages, palm oil, spices and Muslim clothes from Indonesia remain favorite products for Malaysian buyers that Indonesian and Malaysian business players signed a USD87.89 million purchase deal recently.
The purchase agreement between Indonesian and Malaysian actors was facilitated by Indonesia’s Trade Ministry during Trade Expo Indonesia Digital Edition 2021, which runs from Oct. 21 to Nov. 4, 2021.
Trade Ministry Director General for National Export Development, Didi Sumedi, appreciated representatives of Indonesian business players who strive to increase export to Malaysia, saying the trade agreement shows the awakening of trade between Indonesia and Malaysia in the past years.
“In the January-August period, the total trade value between Indonesia and Malaysia stood at USD13,4 billion. If we compare it with the same period of last year, we saw an increase of 49.3 percent. This is an extraordinary rise. We need to appreciate our representatives in assisting for the improvement of our trade with Malaysia,” Didi said.
Indonesian Ambassador to Malaysia Hermono, who also witnessed the signing, said Malaysia’s economy was recovering as shown in the many activities in the economic sectors along with the Malaysian government’s decision to ease restrictions.
“Some economic sectors have started running in Malaysia. This brings direct impact on demand for certain products particularly from Indonesia. We hope this condition continues to improve and return to the condition of the pre-Covid-19,” Hermono said.
Indonesia booked USD2.01 billion in surplus from its trade with Malaysia in the
January–August 2021 period, with Indonesia’s export to Malaysia was recorded at USD 7.68 billion and Indonesia’s import from Malaysia was USD5.67 billion.
As a comparison, total trade between Indonesia and Malaysia in January–August 2020 was USD9 billion.
Also witnessing the signing were Consul General in Penang Bambang Suharto, Consul in Tawau Heni Hamidah and Trade Attache in Kuala Lumpur Deden Muhammad Fajar Shiddiq
Separately, Trade Ministry also facilitated an MoU between Indonesian businesspeople and partners from Egypt for the purchase of car tires amounting to USD20 million. The singing was witnessed by director general Didi Sumedi and Indonesian Ambassador to Egypt Lutfi Rauf.
Didi appreciated the Indonesian representatives in Egypt and also Indonesian businesspeople who strive to boost trade and business amid uncertainty as a result of the Covid-19 pandemic.
As an information, the trade balance between Indonesia and Egypt for January–August 2021 period booked a surplus of USD2.01 billion. (KH)