Monday, 01 June 2020 | 19:20 WIB

Indonesian Gov‘t Plans Strategies to Face Global Economic Challenges

Indonesian Gov't Plans Strategies to Face Global Economic Challenges (bisnis)

JAKARTA, NETRALNEWS.COM - Indonesia Minister of Trade Enggartiasto Lukita says his office continues to finalize the trade strategies in dealing with changes and uncertainties in the global economy level that are happening.

"Along with the challenges and uncertainties in the global economy, comprehensive trade strategy is needed to maintain a conducive trading environment. For this reason, the Ministry of Trade will examine more deeply the problems and challenges that Indonesia is currently facing," he said.

Enggartiasto continued that the world is now facing two significant challenges. First, increasing anti-globalization, in which many countries adopt import restriction measures. Second, the weakening of the multilateral system.

According to the Minister of Trade, the government will continue to reform trade and investments so that it is increasingly integrated with the global economy. Strategic steps are being taken, namely prioritizing value-added processed products and improving import management, through the availability of capital goods and semi-finished products at competitive prices.

Whereas in the field of international trade, the strategies adopted are establishing trade agreements with major trading partners, expanding exports to non-traditional markets, intensifying trade promotions through trade shows and exploring trade agreements (business matching), improving export services, and developing a conducive trade climate.

"In line with this strategy, Indonesia will continue to increase bilateral trade with trading partners, both traditional and non-tradional markets. In addition, Indonesia will enhance multilateral cooperation, such as the ASEAN-RCEP, "said the Minister of Trade.

This year, he continued, Indonesia is targeting non-oil and gas export growth of 8 percent, or rising from US $ 162.8 billion in 2018 to US $ 175.8 billion in 2019. For this reason, the government continues to encourage exports of six main sectors, namely furniture and wood products , food and beverage, textile and textile products, automotive products, electronic products, and chemical products while still promoting the entire industry in Indonesia.