Indonesia has successfully garnered a potential transaction of USD 11.8 million or equivalent to IDR 192.7 billion in its debut participation at the In-Cosmetics 2023 international trade exhibition in Barcelona, Spain, from March 28 to 30, 2023. The Trade Attaché in Madrid, Prabhata Ganendra, stated that the Indonesian Pavilion was flooded with potential buyers and clients for three days. They met and engaged in dialogue with representatives of Indonesian trade who were present in the Indonesian Pavilion to explore cooperation opportunities with Indonesian companies.
The potential transactions include cosmetic raw materials such as patchouli oil, nutmeg oil, palm-based fatty acids, seaweed and its derivatives, as well as cooperation opportunities in the form of franchises, sales agents, and investments. Indonesia's participation in the In-Cosmetics 2023 exhibition in Barcelona was carried out through the collaboration between the Trade Attaché in Madrid and the Indonesia Trade Promotion Center (ITPC) in Barcelona with the Centre for the Promotion of Imports (CBI) in the Netherlands. The Indonesian Pavilion featured seven small and medium enterprises (SMEs) that are ready to explore the global market, namely Aroma Atsiri Indonesia, Javagri, MB Plus, Merpati Mahardika, Mignon Sista Internasional, Pemalang Agro Wangi, and Rumah Atsiri Indonesia.
The In-Cosmetics exhibition is a series of natural raw material exhibitions for the cosmetics industry held in four cities, namely Seoul, Barcelona, Sao Paulo, and Bangkok. Indonesia is the participant from Southeast Asia that contributed the largest number of company participants, with nine companies. The trade fair served as a platform for connecting 882 companies from around the world, including 194 companies from Asia. According to data from the Ministry of Trade, in 2022, Indonesia's total trade to Spain amounted to USD 2.88 billion, with non-oil exports to Spain at USD 2.29 billion, while non-oil imports amounted to USD 584 million. Indonesia recorded non-oil trade surplus of approximately USD 1.6 billion.
