Seizing Opportunity in the Middle of Trade War

DEPUTY Finance Minister Mardiasmo said that trade tensions and volatilities caused by tariff war could have ramifications against the market. Significant climb on import tariff has contributed negatively towards export volume and performance.

"Current global economic situation requires urgent South-South cooperation, especially in creating a response and strategy in handling various situations," said the Deputy Minister in a panel discussion called "The Growing Importance of South-South Cooperation Amid Trade Tensions and Global Financial Market Volatility", a part of a series of events at IMF-WBG Annual Meetings 2018 in Sofitel, Nusa Dua, Bali, Tuesday (9/10).

The South-South Cooperation is a historical term that has been used by policy makers and academics to describe an exchange of resources, technology, and knowledge between developing countries, especially in South America and Africa.

Mardiasmo reminded that this cooperation is becoming more urgent since trade tensions and tariff war volatilities caused by the US and China would affect export-import performance.

The condition, he added, would provide a challenge for governments all over the world to neutralise the situation and protect their people's welfare against such global pressure. "The government will actively improve manufacturing sector, provide full support for the industrial sector, and reform taxation to push export activities," said Mardiasmo.

New opportunities Managing Director I of Indonesian Export Financing Institution (LPEI) Dwi Wahyudi however said, the trade war could provide an opportunity to push for South-South cooperation as well as opening new markets. In response to this, LPEI is committed to accelerate its role and provide financial support for export-oriented business owners in order to compete in the global market, especially African market penetration.

"For market penetration, LPEI supports financing (for exports to) African countries, and this is in line with a special directive from the government through KMK No.787/KMK.08/2017," he said.

Indonesia Eximbank Executive Director Sinthya Roesly expressed that this discussion was aimed to gather views from panelists who were experts in their fields, such as the government, Central Banks, as well as Financial Institutions, to explore a number of related items in order to strengthen the competitiveness of export-oriented SMEs in global e-commerce.

The trade war has caused a significant jump in import tariff, which caused a drop in the volume of international trade as well as export performance. The high dependency on the dollar currency has also strained export financing.

This situation points to the importance of South-South cooperation, especially in creating potential response and strategy to overcome current global economic challenges. It is also in accordance to one of the objectives of initiating the South-South Cooperation, which was to look for new opportunities and market expansion. (E-2)

Meraih Peluang di Tengah Perang Dagang

WAKIL Menteri Keuangan (Wamenkeu) Mardiasmo, mengatakan bahwa ketegangan perdagangan dan ketidakpastian dalam perang tarif memberikan memberikan konsekuensi terhadap pasar. Adanya peningkatan signifikan terhadap tarif impor semakin menekan volume dan kinerja ekspor.

"Keadaan ekonomi global saat ini menuntut pentingnya kerja sama selatan-selatan, terutama untuk menciptakan respons serta strategi dalam menangani berbagai situasi yang terjadi," ujar Wamenkeu dalam diskusi panel yang bertajuk The Growing Importance of South-South Cooperation Amid Trade Tensions and Global Financial Market Volatility dalam rangkaian acara IMF-WBG Annual Meetings 2018 di Sofitel, Nusa Dua, Bali, Selasa (9/10).

Kerja sama selatan-selatan adalah istilah historis yang digunakan oleh para pembuat kebijakan dan akademisi untuk menggambarkan pertukaran sumber daya, teknologi, dan pengetahuan antara negara-negara berkembang, terutama di Amerika Selatan dan Afrika.

Mardiasmo mengingatkan kerja sama ini semakin mendesak karena ketegangan perdagangan dan ketidakpastian dalam perang tarif yang dilakukan AS serta Tiongkok dapat memberikan konsekuensi terhadap kinerja ekspor impor.

Keadaan tersebut, tambah dia, dapat menjadi tantangan bagi pemerintahan di seluruh dunia untuk menetralisasi situasi dan tetap menjaga agar tekanan global tersebut tidak menganggu kesejahteraan masyarakat.

"Pemerintah akan bergerak aktif dalam meningkatkan sektor manufaktur, mendukung penuh sektor industri dan mereformasi perpajakan untuk mendorong aktivitas ekspor," kata Mardiasmo.

Peluang baru
Direktur Pelaksana I Lembaga Pembiayaan Ekspor Indonesia (LPEI) Dwi Wahyudi mengatakan, terjadinya perang dagang dapat menjadi kesempatan untuk mendorong kerja sama Selatan-Selatan dan membuka peluang pasar baru.

Dalam menyikapi kondisi ini, LPEI berkomitmen untuk meningkatkan peran dan memberikan bantuan kepada pelaku usaha berorientasi ekspor agar mampu bersaing di pasar global, terutama guna penetrasi di pasar Afrika.

"Untuk melakukan penetrasi pasar, LPEI mendukung pembiayaan ke negara-negara di kawasan Afrika dan ini sejalan dengan penugasan khusus yang diberikan pemerintah melalui KMK No.787/KMK.08/2017," ujarnya.

Direktur Eksekutif Indonesia Eximbank, Sinthya Roesly menyampaikan bahwa,diskusi ini bertujuan mendapatkan pandangan dari panelis yang merupakan ahli di bidang terkait, seperti pemerintah, Bank Sentral, serta Institusi Keuangan untuk mengeksplorasi beberapa poin terkait cara memperkuat daya saing UKM berorientasi ekspor dalam e-commerce global.

Lantaran perang dagang, peningkatan signifikan terhadap tarif impor semakin menekan volume perdagangan internasional dan kinerja ekspor. Selain itu, tingginya ketergantungan terhadap mata uang dolar, telah membebani pembiayaan eksportir.

Kondisi ini menunjukkan pentingnya Kerja Sama Selatan-Selatan, terutama untuk menciptakan respons serta strategi yang potensial untuk mengatasi situasi yang terjadi. Selaras dengan salah satu tujuan dari diselenggarakannya Kerja Sama Selatan-Selatan yaitu untuk membuka peluang serta penetrasi pasar. (E-2)