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Jakarta October 2018

ITMA ASIA 2018Enggartiasto Lukita, Indonesia Trade Minister

So far, textile and textile products industry has always been one of the prima donna of exports for Indonesia where in 2017 exports reached US $ 12.58 billion. However, when compared to several competitor countries, the development of textile industry in Indonesian is actually not very good. Current market share in the world market still stay at around 1.7% compared to Vietnam, India and Bangladesh describes its growth.

Entrepreneurs in this sector firmly believe that many government's policies make this labour-intensive industry in trouble. At the seminar held in Bandung in mid-September Minister of Trade Enggartiasto Lukita conveyed the government's commitment to support textile and textile products (TPT) industry to to meet domestic needs and make this industry a mainstay of non-oil exports.

In his remarks Minister of Trade Lukita Enggartiasto said that TPT Industry continues to grow and develop and become one of mainstay of Indonesia's foreign exchange earnings after tourism sector and palm oil. Enggartiasto is optimistic that this year's TPT exports will increase 8% from last year's US $ 12.78 billion.

He continued saying that government is in the process of opening market access for textile products through the completion of various trade agreements with a number of countries. Government also increased exports through accelerating negotiations and opening market access to non-traditional markets in Africa, such as Tunisia, Morocco and Mozambique. In addition, government has also helped increase ASEAN economic cooperation with strategic partner countries, such as Canada, US and Russia.

According to Enggartiasto, in the midst of uncertain global economic conditions and trade war between US and China, it will absoultely affect textile industry in Indonesia. However, the trade war also opened up market opportunities for Indonesian exports in the global market, especially in America. "Indonesia should be able to take advantage of the opportunities that exist, at least taking almost 38 percent of the share of textile exports from China to the US," he said.

In a panel discussion with actors with resource persons Anne Patricia Sutanto (PT Pan Brothers), Iwan Setiawan Lukminto (Sritex) it was revealed that the market opportunity for Textile industry is still promising and this is opportunity for young entrepreneurs to invest in textile industry.