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Jakarta, July 1, 2024 - In an effort to boost national export performance, the Indonesia Eximbank (LPEI) together with PT Asuransi Asei Indonesia (ASEI) are strengthening the export ecosystem through the development of the Special Export Credit Insurance Cooperation for Small and Medium Enterprises (PKE UKM).
These two Indonesia Export Credit Agency (ECA) are committed to providing comprehensive solutions, not only in terms of financing through the PKE UKM program but also in credit insurance for the said financing. This initiative is designed to help small and medium enterprises (SMEs) overcome challenges in increasing exports and competitiveness in the global market.
This synergy between LPEI and ASEI aims to provide credit insurance protection for export-oriented SMEs in facing the risk of non-payment by covering up to 70% of the risk.
The signing of this strategic cooperation was held at the LPEI head office in Jakarta on Friday (June 28) by Berlianto Wibowo, Head of Division NIA, Trade Finance & Financing LPEI, and Ilham Mustafa, Head of Division Guarantee & Insurance LPEI, along with Irsyam Fasya, Chief Technical Officer of Asuransi Asei, and Edi Apriansah, Head of Division Marketing Asuransi Asei. This event was also witnessed by the Managing Director of Business Development LPEI, Maqin U. Norhadi, along with the Asuransi Asei Management, including Rachman Notowibowo Achmad Sudiyar Dalimunthe and Agus Sulih Purwanto.
The Managing Director of Business Development LPEI, Maqin U. Norhadi, explained, “This collaboration between LPEI and ASEI is expected to have a positive impact on SMEs and increase their confidence in developing products as well as providing better protection for Indonesian SMEs, thereby encouraging national export growth and strengthening Indonesia's position in the global market.”
The President Director of ASEI, Achmad Sudiyar Dalimunthe, stated, “The cooperation between Asuransi Asei and LPEI demonstrates the commitment of both institutions in supporting the enhancement of the national export ecosystem. The support provided by these two institutions is expected to accelerate the export pace of SMEs, which in turn will increase their contribution to the national economy.”
As an Indonesian Export Credit Agency (ECA), Asuransi Asei has also established good cooperation with LPEI, both of which are members of the International Association Berne Union. This collaboration is expected to bring sustainable business growth for both parties.
This cooperation is a continuation of the previous collaboration which successfully provided co-insurance facilities for marine cargo. This collaboration is also a tangible form of synergy between institutions under the Ministry of Finance and the Ministry of State-Owned Enterprises in enhancing the competitiveness of Indonesian products and the export ecosystem.
The LPEI PKE UKM program is a government assignment through the Minister of Finance Decree (KMK) No. 409/KMK.08/2021 aimed at supporting export-oriented SMEs. This program is a tangible proof of the government's presence in encouraging SMEs to be more globally competitive. As of June 27, 2024, LPEI has disbursed PKE UKM facilities amounting to IDR 1.052 trillion for export shares to more than 65 countries.
LPEI's support for export-oriented SMEs does not stop at the PKE UKM program; export SMEs can also utilize other PKE programs according to the existing export profile/characteristics, including PKE Regional (for non-traditional market destinations) and PKE Trade Finance (with trade transaction schemes).
In addition to this support, LPEI is also preparing a marketplace called Komodoin, specifically designed as an export education tool, information service, incubation, capacity building, and a place for sellers and buyers to meet (business matching). The ease and availability of comprehensive services in the marketplace are expected to encourage export-oriented businesses to be globally competitive.
Data from the Ministry of Cooperatives and SMEs of the Republic of Indonesia shows that the contribution of Indonesian micro, small, and medium enterprises (MSMEs) exports currently reaches 15% and is expected to reach 17% by 2024.
To support this government target, LPEI is driving an export ecosystem capable of supporting SMEs to be globally competitive, including collaborating with government representatives in the trade sector, namely Trade Attachés and Indonesian Trade Promotion Centers (ITPC) in five continents.
To address market challenges regarding the quality, quantity, and sustainability of export products, LPEI continues to promote assistance for export-oriented SMEs. “LPEI is also preparing a marketplace called Komodoin, specifically designed as an export education tool, information service, incubation, capacity building, and a place for sellers and buyers to meet (business matching). The ease and availability of comprehensive services in the marketplace are expected to encourage export-oriented businesses to be globally competitive,” said Maqin.
Media Liason:
Chesna F. Anwar
Corporate Secretary – Indonesia Eximbank
Ph.: (021) 39503600
Email: corpsec@indonesiaeximbank.go.id
Web: http://www.indonesiaeximbank.go.id
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