Indonesian business players and their counterpart in United Arab Emirates (UAE) are upbeat that F&B and jewelry businesses will increase in next few years as demands for Indonesian products are surging in the Arab country.

 

Chairman of Indonesian Jewelry Producers Association (APPI) Eddy Yahya said he hoped exports of Indonesian jewelry products to UAE can increase threefold by 2025. “Especially when the economic agreement Indonesia-UAE CEPA is signed and implemented by 2022,” he said.

 

Meanwhile, chairman of Indonesian Food and Beverage Business Association (GAPMMI) Adhi Lukman said that export of Indonesian food and beverage to UAE was still low. “We hope UAE businessmen will invest in food and beverage business in Indonesia. This activity can be an opportunity to improve collaboration in the halal sector and promotion of Indonesia Spice up the World [ISUTW] program,” he said.

 

In addition, chairman of Dubai Gold and Jewelry Group Tawhid Mohammad Taher Abdulla Al Mohadi expected an increase in the supply of Indonesian jewelry products to UAE. He said the supply so far was so little compared to UAE demand for golden jewelry.

 

He also hoped the Indonesian government would keep encouraging business players to promote products through exhibition and other promotional activities.

 

The hope and expectation of Indonesian and UAE business players were expressed during a trade mission of the Indonesian trade ministry in Dubai on Sunday (7/11).

 

“This trade mission aims to strengthen market penetration into Middle East and also to build business network involving Indonesian business players. It is hoped that through this activity the export of Indonesian jewelry as well as food and beverage will surge significantly,” said Trade Ministry director general for national export development Didi Sumedi.

 

The trade mission was a collaboration between Trade Ministrym Indonesian Embassy in UAE, Consulate General in Dubai and Indonesia Trade Promotion Center in Dubai.

 

The trade mission consisted of business forum and business matching. The business forum was opened by Indonesian Ambassador to UAE Husin Bagis and was attended by 60 participants from Indonesian companies, buyers, Indonesian diaspora, association and government representatives.

 

Meanwhile, in business matching activities, several trade agreements were signed. This was marked by the signing of four memorandums of understanding (MoU) for gold jewelry products with a total value of USD180 million for a year's supply.

 

Didi added that the UAE is a potential market for Indonesian jewelry and gold because it is a hub for other markets. However, in the last two years it has decreased due to the pandemic due to the restriction policies in each country.

 

"Through the signing of this MoU, it is hoped that this will be an initial effort for the recovery of Indonesian jewelry product exports in the future," he concluded.

 

In 2020, the total trade between the two countries stood at USD2.9 billion. Meanwhile, in the January-August 2021 period, the total trade between the two countries was recorded at USD2.41 billion.

 

In that period, Indonesia's exports to the UAE amounted to USD1.12 billion, an increase of 33.93 percent compared to the same period last year which was recorded at USD833.79 million.

 

Meanwhile, Indonesia's imports from the UAE were valued at USD 1.29 billion, up 20.96 percent from the same period last year which was recorded at USD 1.07 billion. Indonesia's main non-oil and gas exports to the UAE include palm oil, jewelry, iron pipes and tubes, motor vehicles, and synthetic fabrics. (KH)