Indonesia sells instant noodle products and spices to Mexico through a counter-trade scheme. The total value of the products in the counter-trade agreement reached 150 thousand US dollars or equivalent to Rp. 2.12 billion (exchange rate of Rp. 14,169). The trade offsets from the Indonesian side are carried out by the BUMN PT Indonesia Trading Company and from Mexico, namely Cluster de I+D y TICs. The contract was signed by PPI Director of Commercial and Development, Andry Tanudjaja and Director of Cluster de I+D y TICs Myrhge del Carmen Spross Barcenas. Director General of National Export Development, Ministry of Trade, Didi Sumedi said, the contract is the first time for the two countries. The contract worth 150 thousand US dollars is a clear proof of the seriousness of Indonesia and Mexico in increasing on-top exports through business-to-business counter-trade cooperation. The products from Mexico that will be traded are sesame seeds, sesame oil, canola oil, and avocado oil. "Shipping these products from and to each country is targeted to start in November 2021 until June 2022," said Didi, in his official statement, Tuesday (26/10).
The Acting Director General of Foreign Trade, Ministry of Trade, Indrasari Wisnu Wardhana added, the Indonesian government is always fully committed to supporting and paying special attention to implementation in the field. "This sale and purchase contract through counter-trade is the first transaction carried out by Indonesia with its trading partners, since the plan to buy and sell for the purchase of the Sukhoi Su-35 and the KFX/IFX aircraft development program is still pending," he said. However, this does not close the room for additional products and volumes of transaction value.The Indonesian Ambassador in Mexico City, Cheppy T Wartono, revealed that one of the main obstacles in increasing Indonesia-Mexico trade is the ignorance of business actors in both countries regarding the potential of partners their respective trades. Achieving the sale and purchase contract between the two implementing agencies is not an easy thing and the process in the future may be more difficult. "For this reason, the Indonesian Embassy and ITPC in Mexico City are ready to support and are ready to coordinate to bring the contract to the final stage" he said.
For your information, Indonesia currently has counter-trade agreements with four countries. Namely with Mexico, Russia, Germany and the Netherlands. The transaction with Mexico worth 150 thousand US dollars is the first of the four countries that have signed an agreement. The Ministry of Trade is starting this year exploring a business to business (B2B) counter-trade scheme or barter with 10 countries. The scheme is believed to be able to improve the performance of national exports as well as to save the country's foreign exchange. The trading system is carried out by exchanging goods of equivalent value. The government has offered the scheme to 35 countries. However, of the 35 countries, there are 10 countries that have a strong desire to open counter-trade cooperation with Indonesia. The Ministry of Trade also appointed PT Indonesia Trading Company (Persero) as the implementing agency in the B2B counter-trade cooperation program. The 10 countries include Mexico, Italy, France, the Netherlands, Germany, Turkey, Kenya, Russia, Afghanistan and the Philippines.
