The Indonesian Chamber of Commerce and Industry or Kadin considers that Indonesia needs to be careful in optimizing business opportunities amidst geopolitical tensions that affect the economy. Various export opportunities are open and can be utilized by entrepreneurs. This was conveyed by the Chairman of Kadin Arsjad Rasjid in a press conference regarding inflation, the scarcity of cooking oil, and the response to the increase in value added tax (VAT). The press conference took place on Tuesday (15/3/2022) afternoon. Arsjad said that the conflict between Russia and Ukraine had a major impact on the global economy, partly because of rising world oil prices.
In addition, trade activities were also affected, either in terms of commodities from the two countries or because of trade embargoes from other countries.
According to him, Indonesia needs to be observant in reading the opportunities amidst the geopolitical tensions. He believes that Indonesia can boost exports to many countries by taking advantage of the existing conditions.
"Like during the trade war between the United States and China, we are blessed. I am surprised that garment factories now, all of Indonesia have no space. America has bought up textiles, shoes, furniture so booming. We have a surplus of dollars," said the Chairman of the Chamber of Commerce and Industry at the time. Tuesday (15/3/2022).
He also stated that entrepreneurs must be able to 'win' these challenging conditions. The continued improvement in Indonesia's export performance is a signal that in the midst of the Covid-19 pandemic and geopolitical conflicts, Indonesia can take advantage.
"That's why we at Kadin always say, 'wars' we have to 'win'," said Arsjad.
Previously, Head of the Central Statistics Agency (BPS) Margo Yuwono announced that the trade balance surplus in February 2022 reached US$3.83 billion. This achievement grew rapidly from January 2022 which was a surplus of US $ 0.9 billion.
BPS noted that export performance in February 2022 reached US$20.46 billion or grew 34.14 percent (year-on-year/yoy). The value of imports in February 2022 was recorded at US $ 16.64 billion or grew 25.43 percent (yoy), resulting in a surplus.
"The trade balance has a surplus of US$3.83 billion. This has happened for the last 22 months in a row, Indonesia experienced a trade balance surplus," Margo said at a press conference, Tuesday (15/3/2022).
