The business contract value between Indonesian and Malaysian companies, particularly from Penang, has seen significant growth. According to Wanton Saragih, the Consul General of Indonesia in Penang, trade cooperation between seven Indonesian companies and three Penang-based Malaysian firms has reached a total value of USD 2.42 million, equivalent to approximately IDR 38 billion. Saragih noted that the increase in business contract value is driven by the improving quality of Indonesian commodities. These products have become more competitive, positively impacting market demand.
The trade agreements were formalized through the signing of business contracts during the 39th Trade Expo Indonesia (TEI) held in BSD, Tangerang. Saragih emphasized that the Indonesian Consulate in Penang continues to enhance trade and investment relations through various economic diplomacy efforts. He further highlighted TEI as a crucial platform for domestic businesses to showcase their products and expand opportunities in global markets. The Consulate also supports business matchmaking between potential buyers and Indonesian enterprises, aiming to explore new cooperation prospects and boost trade and investment volumes between Indonesia and Malaysia.
