Indonesia exports $1.5 million worth of steel to New Zealand
Indonesian Trade Minister Budi Santoso on Wednesday sent off export consignments of welded beam steel, measuring 1,200 metric tons and valued at $1.5 million, to New Zealand, reported national news agency Antara.
An employee finishes production of steel pipes at the Krakatau Steel plant in Cilegon, Banten. Photo courtesy of The Jakarta Post.
The minister attributed the export realization to the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA), which permits 0% import duty.
Thanks to the AANZFTA, Indonesia can export its steel to New Zealand without an import duty, facilitating it to compete with other nations, he remarked during the send-off ceremony in Bekasi district, West Java.
He added that New Zealand is a highly valuable potential market for the Southeast Asian nation’s steel products, given the Pacific country's extensive construction projects of bridges and airports.
To capitalize on this opportunity, the minister urged local micro, small, and medium enterprises (MSMEs) to augment the quality of their products, which he considers essential for competing with producers from other countries.
He affirmed that the Ministry of Trade is determined to assist MSMEs in contributing to Indonesia's goal of recording a total export value of $294.45 billion this year, representing an annual increase of 7.1%.
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