The Indonesian government has taken proactive measures to anticipate a potential decline in exports this year by mapping out non-traditional export destinations. At least 12 countries have been identified as potential markets for various Indonesian products and commodities. Secretary of the Coordinating Ministry for Economic Affairs, Susiwijono, revealed discussions with business stakeholders, highlighting Latin American, African, South Asian, and Middle Eastern countries as future export destinations. Amidst global economic slowdown projections affecting global trade, Indonesia aims to counter export slowdown by strengthening trade cooperation. This includes efforts such as enhancing trade agreements like the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) involving 11 countries and the Regional Comprehensive Economic Partnership (RCEP) among 10 ASEAN member states, alongside active collaborations with OECD member countries.
Susiwijono emphasized the importance of bolstering demand in the global market, shifting focus from solely the supply side to also emphasizing demand. Indonesia seeks to establish a robust position not only in supplying products but also in stimulating demand in target markets. This strategy aligns with the formation of the Export Enhancement Task Force under Presidential Decree Number 24 of 2023. Historically, major export destinations for Indonesia included China, the United States, Japan, Singapore, and South Korea. To boost export revenues, Indonesia aims to diversify its markets beyond these countries. Susiwijono stressed the need for Indonesia to strengthen both supply and demand aspects in target markets. The government aims to position Indonesia strongly in terms of product supply while also focusing on stimulating demand in destination countries. This strategy involves targeting both traditional and non-traditional markets for future export growth.
