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Indonesia secures trade deals with U.S., Canada on furniture, rubber, garment productsTuesday, October 14, 2014 > 10:02:11
Indonesian businesses Friday sealed 11.3 million U.S. dollars' worth of trade contracts with their counterparts in the United States and Canada, which shows international business's persistent trust in Indonesian products, a senior official said here.
The trade deals were revealed by Trade Deputy Minister Bayu Krisnamurthi when he attended a large trade expo held in a landmark expo center here. He said the deals covered furniture, rubber and garment products of baby wear.
According to Bayu, the trade deals with importers from the United States reached the largest chunk at 10.3 million U.S. dollars. The remaining 1 million dollars goes to Canadian importers.
"This is a positive signal," Bayu said, expecting that it may spur more exports of Indonesia's non-oil and gas products to foreign markets.
The United States market remains the largest recipient of Indonesia's furniture, rubber and garment products, according to the data released by the trade ministry.
It takes 35.68 percent of Indonesia's furniture product exports. Indonesia recorded 372.03 million U.S. dollars' worth of furniture exports to the United States from January to July this year with a average growth of 7.23 percent.
That figure significantly takes the total export of the products during the period at 1.06 billion U.S. dollars.
The remaining furniture exports went to Japan, the United Kingdom, the Netherlands and Germany.
The nation saw total export on furniture products reached 1.75 billion U.S. dollars last year. Furniture exports have grown positively at an average of 0.38 percent in the past five years.
The United States takes the largest portion of Indonesian rubber product exports at 23.24 percent. The remaining exports went to China, Japan, South Korea and India.
Indonesia recorded total rubber exports from January to July this year reached 4.44 billion U.S. Dollars.
For garment products, the United States takes 50.09 percent of Indonesian exports. Of 4.65 billion U.S. dollars' worth of Indonesian total garment exports from January to July this year, the United States took 2.3 billion U.S. Dollars.