Indonesia to preserve export value in APEC countries this year: official

English>>

Editor's Pick

Indonesia to preserve export value in APEC countries this year: official

(Xinhua) 20:36, September 27, 2013

Email|Print|Comments

twitter

facebook

Sina Microblog

A senior Indonesian official said on Friday that the nation intends to preserve its export value to countries grouped in Asia Pacific Economic Cooperation (APEC) forum, adding that exports to those economies have contributed almost 70 percent to the country's total exports last year.

Trade Deputy Minister Bayu Krisnamurti said that Indonesia has considered countries joined in APEC as crucially essential for the country's exports. Indonesia saw a total of 139.9 billion U.S. dollars of export value to the region throughout last year.

"We have to stay in it and be active in APEC," Bayu said in his office here.

He added that among the aims of hosting the APEC meeting in the country this year is that the nation planned to assure export accomplishment for this year, which is similar to the record it attained last year.

Indonesia's exports to APEC economies were dominated by non-oil and gas commodities that accounted for 103 billion U.S. dollars, Bayu added.

The APEC summit and senior officials meetings were scheduled from Oct. 1 to 10 in Indonesia's leisure island of Bali.

Bayu said that APEC is a crucial event for Indonesia to improve its foreign trade.

He said that Indonesia puts great expectation on economic potentialities in APEC region as it has 40 percent of the world's population, equaling to 2.8 billion people.

"APEC region also harbors 17 to 18 trillion U.S. dollars of trade per year, or 45 percent of the world's trade. Total GDP from countries grouped in the economy bloc stands around 33 to 35 trillion U.S. dollars, or accounts for 55 to 60 percent of world's total GDP," Bayu pointed out.

Indonesian Trade Minister Gita Wirjawan said earlier that 11 head of APEC member states have confirmed to attend the event. Around 1,200 executives of companies in the region were also expected to attend the meeting.

Indonesia has been greatly affected by economy slowdown that occurs globally, particularly in its regular export destination countries in the last few years that made the country revised down its growth target this year.

The largest economy in Southeast Asia is seeking alternative markets in Africa and Middle East countries to address this issue.