VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

East Java Industry and Trade Agency introduced some local products to South Korea, to encourage market expansion into the global market. Head of East Java Industry and Trade Agency, Drajat Irawan through a press release in Surabaya on Monday (4/10) said that the introduction was carried out in a Business Matching Online. It aims to accelerate international trade transactions and increase the foreign exchange to balance East Java’s trade balance.

He also explained that the commodities being introduced include food and beverages, coffee, aromatherapy, essential oil, and fishery products. According to Drajat, South Korea is a potential trade partner for East Java.

The trade value between East Java and South Korea had a US$53.81 million surplus, with US$446.64 million of export value and US$392.81 million of import value from January until August 2021.

Furthermore, the trade to South Korea was also supported by the Indonesia-South Korea Comprehensive Economic Partnership Agreement (IK-CEPA) that was signed on December 18 2020. With this agreement, Indonesian products can be marketed to South Korea with zero percent tariff. This opportunity must be used for East Java’s products to enter the South Korean Market.

Drajat added that one of the sectors hit worst by Covid-19 pandemic is small-medium industries or businesses. He affirmed that the local product introduction was an effort by the East Java’s Government to support export-oriented micro-small-medium enterprises in penetrating and exploring the South Korean market.

Drajat Irawan hopes that this activity will make a continuous trade transaction agreement, especially for small and medium industries or businesses that aim to expand their market and to enter the South Korean market.