Indonesia eyes Asia following downturn in European market

14:26, September 04, 2010      

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Indonesian Trade Minister Mari Elka Pangestu said Friday that Indonesia would focus its exports on Asian countries following the slow economic recovery in European countries.

"Europe has yet to get through its (economic) crisis period at the moment. In the meantime, Asian markets continue to grow," the minister said.

She added that besides European countries, used to be the country's traditional export destination, Indonesia could not hope much from the U.S. market since the U.S. is experiencing slow growth at the moment.

The minister, however, said that the U.S. market has yet to decline as the export share to the United States remains at 11 percent since 2005. The plan to increase exports to Asian countries was intended to anticipate the ongoing conditions in U.S. and European countries, she added.

Furthermore the trade minister said that Thailand was one of Indonesia's emerging export markets with export figure to that country continues to grow in the last few years.

According to the ministry's data, exports to Thailand from January to July this year reached 2.3 billion U.S. dollars.

"That figure was 80.9 percent higher compared to that in the same period last year," Mari added.

Indonesia's commodities exported to Thailand among others are copper, papers and processed filaments.



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