Indonesia increases processed food exports to improve trade balance

JAKARTA, Jun 16, 2020, ANTARA. The Indonesian Trade Ministry has adopted strategic measures to intensify the exports of processed food products to improve Indonesia’s trade balance in the second quarter of 2020 amid the COVID-19 pandemic, Trade Minister Agus Suparmanto stated, ANTARA reported.

“Hence, it would necessitate all stakeholders to be involved to usher in innovations to boost the exports of Indonesia’s processed food products amid the COVID-19 pandemic,” Suparmanto noted in a statement here on Tuesday.

Suparmanto affirmed that the vital measures were expected to bring about an improvement in the country’s trade performance during the new normal era.

The key measures encompass simplifying the certificate of origin service by applying affixed signatures and stamps and introducing automatic authentication in the export and import licensing process for traders with good reputation.

Furthermore, the ministry has streamlined export and import services and monitoring through the application of the National Logistic Ecosystem (NLE).

“Other strategic policies are increasing facility and information service for exports, export promotion, virtual business matching through trade representatives, and virtual training for new exporters,” the minister expounded.

The ministry has proposed incentives in the form of insurance or export loan or other bank fundings for exporters bearing the brunt of the COVID-19 pandemic.

Suparmanto reiterated the strategic role of trade representatives to support the application of policies during the transition period toward a new normal, including to offer updated information on the situation in export destination countries.

Trade representatives should maintain communication with related ministries and institutions in destination countries, business association, and operators.

“Hence, business operators in the processed food product sector can still enjoy market access by gaining an understanding of regulations or new regulations during the transition period. As some countries have started opening their public facilities and economic activity centers, businesses should capitalize on this change as an opportunity,” he added.