Advenia Elisabeth/MPI
IDXChannel - Minister of Trade Zulkifli Hasan has witnessed the export shipment of 25 tons of coffee from Indonesia to Egypt worth USD60 thousand or around Rp890 million.
The coffee was exported by Gunung Luhur Berkah (GLB) Cooperative from Subang.
Zulhas explained that the coffee was paid in 50 tons of dates from Egypt which arrived in Indonesia on March 30, 2023. According to Zulhas, countertrade is one of the solutions to save foreign exchange reserves.
"The success of this coffee export to Egypt through a countertrade scheme is an alternative that does not require foreign exchange," said Zulhas, Thursday (6/4/2023).
Using countertrade, transactions between two parties do not involve cash. In addition, the values of the exchanged goods are the same.
According to the minister, Indonesia will continue to encourage countertrade transactions with Egypt. This is due to the scarcity of foreign exchange reserves in Egypt. (WHY)
