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“We export 76.49 % of industry-processed merchandise. This will likely be greater sooner or later as oil and fuel (items) can be decreased in proportion,” the minister mentioned on the Mandiri Funding Discussion board right here on Wednesday.
Within the class of industrially processed merchandise, electronics, metal, and automotives are at present Indonesia’s prime exports, he famous.
Indonesia has the potential to be a rustic that has energy within the iron and metal processing {industry}, he added.
“Once I was leaving BKPM (the Funding Coordinating Board), we had been nonetheless negotiating to export iron and metal price US$2 billion. At the moment, there was an try to downstream nickel,” Lutfi mentioned.
He additionally lauded the entry of Indonesian metal and iron commodities into the Chinese language market. This implies they’ll additionally attain different nations comparable to these in Europe and Africa, he defined.
Subsequently, Indonesia must have an awesome commerce settlement that enables it to promote metal merchandise, he mentioned.
Associated information: Indonesia is pushing for industrial downstreaming
In the meantime, one other dependable industry-processed product is Crude Palm Oil (CPO), which is commonly sought by China and even Europe, Lutfi famous.
He additionally highlighted that 18.3 % of Indonesia’s electronics exports go to Singapore, which is believed to be solely a transit nation. From Singapore, electronics are exported once more to different nations, he mentioned.
Indonesia is specializing in exporting industrially processed merchandise to extend the added worth of exports, he added.
“We’re making use of the phases of conversion, this has occurred and we’ve got achieved success,” Lutfi mentioned.
Moreover, Indonesia is aiming to export refined nickel merchandise in addition to course of bauxite into alumina and aluminum ingots, he added.
Associated information: SOEs dedicated to expediting coal downstreaming: minister
Associated information: Palm oil downstreaming to extend added worth of exports: minister
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