BI, Govt. Synergise to Promote MSMEs to Enter the Global Market

Jakarta, InfoPublik—Bank Indonesia (BI) works in synergy to support the Government in encouraging MSMEs to penetrate the global market through 4 (four) main focuses.

First, the synergy of economic diplomacy between the BI Foreign Affairs Representative Office, the Government, and all ambassadors to encourage MSMEs to Go Global.

Second, ensuring the availability and suitability of MSME products by maintaining product continuity and quality.

Third, encouraging ease in regulation, among others in forming business units and obtaining loans.

Fourth, digitizing marketing (marketing and showcasing), including support for a payment system through QRIS (QR Code Indonesian Standard).

These points were conveyed by the Governor of BI, Perry Warjiyo, in the BI-Ministry of Foreign Affairs Joint Webinar with the topic Global Market Trends, which was held virtually on Saturday (29/8/2020), as a series of the Indonesian Creative Works (KKI) 2020 Series I.

Foreign Affairs Minister Retno Marsudi on the occasion conveyed that the key to MSMEs in overcoming the challenges of a pandemic is beyond business as usual, namely by advancing innovation and adapting to the very fast business market, by digitizing.

Furthermore, Retno conveyed that the Government through the Foreign Affairs Ministry carried out a number of diplomacy to encourage Indonesia's economic recovery, including to encourage Indonesian MSMEs through a process of adaptation, adjusting, and transforming their business model with the current rapidly changing conditions.

Through this webinar, it is hoped that the synergy between BI and the Government can generate insights about the positioning of Indonesian MSMEs in facing global challenges and trends amid the latest global issues.

The webinar also discussed the conditions and direction of global economic and trade development, the positioning of Indonesian MSMEs and lessons learned from competing countries, as well as the roles of Ministries/Institutions and related authorities in preparing MSMEs to take advantage of their opportunities to support exports and tourism.

Understanding the opportunities, directions and developments in the world market, it is expected that MSMEs can be motivated to grow creative ideas and continue to work so that they can take advantage of market opportunities in the new normal, especially to support export and tourism performance.

BI invites the public to visit the KKI 2020 exhibition virtually through the KKI website, namely www.karyakreasiindonesia.co.id through the platform which was opened from 28 August to 30 August 2020. Meanwhile, BI-assisted MSMEs products will also be available on a catalogue menu on the KKI website www.karyakreatifindonesia.co.id.

In the future, BI will always be committed to continuing to develop MSMEs so that they can become the backbone of the regional and national economy, and work in synergy with various ministries and institutions.

(Reporter: Isma, Translator: Penni P. Rusman)