Indonesian exports ready to enter new era: Trade minister

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JAKARTA, Oct 24 (AFP): Indonesia is set to enter the "next stage" of its export recovery, 10 years after the 1997 Asian financial crisis crushed its once-formidable export growth, the country's trade minister said.
In an interview with AFP this week as a major trade fair was launched aiming to lure cashed-up buyers from abroad, minister Mari Pangestu said that the government was now focusing on seeking to boost non-commodity exports.
"My first priority (has) been to get us back to the level before the crisis and I think we've achieved that in terms of market share, in terms of the growth rate," Pangestu said.
Indonesia was one of the nation's worst hit by the 1997 crisis and has only just clawed its way back to recovery.
"The next stage: ... we have to ensure manufacturing exports will continue to increase. If you look at the numbers, actually the growth rate in the manufacturing sector in general hasn't been high," she said, referring to an annual growth rate of five to 10 per cent in recent years.
Pangestu, an overseas-educated economist, said strong demand for Indonesian commodities had driven its exports past the milestone of 100 billion dollars a year. However, growth has been far slacker in non- commodity exports.
The result has been impressive growth in industries that employ few people, but far less in those with the potential to provide jobs to Indonesia's growing population of unemployed.