Trade Ministry of Indonesian Embassy in Cairo Attended A Virtual Meeting on The Use of Trade Rewards
Monday (2 November 2020) Trade Ministry of Indonesian Embassy in Cairo attended a virtual meeting on the Use of Trade Rewards in the Context of Accelerating Exports, Directorate General of Foreign Trade, Ministry of Trade of the Republic of Indonesia. Didi Sumedi, Director General of Daglu of the Ministry of Trade of the Republic of Indonesia explained the importance of using trade returns as one of the important things mandated by the President of Republic of Indonesia in helping to accelerate Indonesia’s exports to overseas.
Mr. Didi reviewed the benefits of trade returns, including overcoming barriers and constraints on exports abroad as well as expanding market areas and marketing new products.
Providing on-top / additional exports, saving foreign exchange and overcoming import difficulties due to foreign exchange limitations, win-win situations, supporting efforts to create a balance of trade and payments as well as increasing production and expanding job opportunities Virtual meeting moderated by Mrs. Merry Maryati, Director of Export & Import Facilitation, The Directorate General of Foreign Trade emphasized that trade returns outside of government procurement (Business to Business) can offer goods and services needed by exporting countries.
In terms of export-import, there is a need for assistance from supporting institutions including banking (LPEI), insurance, futures trading at reference prices and warehousing. Related to Egypt, for example, the use of trade returns can be offered between Indonesian palm products and phosphate products from Egypt which have a selling value. strategic and needed in each country.