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FINANCIAL NEWS
Indonesia plans to increase exports to Egypt
09 Dec 2014
(MENAFN) The Indonesian government said that it is planning to boost its bilateral trade with Egypt, since it considers the North African market to be a very suitable one for the Indonesian products, Xinhua reported.
Trade between the two countries has registered an annual growth of about 10.48 percent between 2009 and 2013, with the total trade volume hitting USD1.03 billion last year, with the Egyptian market has registering a high demands for several Indonesian products including tires, batteries, electronic products, house ware, cocoa and tea.
Despite Egypt being a non-traditional market for Indonesian exports, the Indonesian government decided to boost the shipments of its products there as it attempts to diversify export to non- traditional export markets.
“The Indonesian government encourages businessmen from Indonesia and Egypt to step up their trade and we hope the trade mission can create new business cooperation between the two countries. Hence it could increase Indonesia’s export to Egypt,” Director General of The National Export Development of the Trade Ministry said.
Indonesia, which has The United States and Europe as its traditional export markets, has registered a surplus of USD20 million in its trading performance in October after registering a deficit in September due to an increase in its non-oil and gas exports.
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