The signing of a Memorandum of Understanding (MoU) between the Ministry of Foreign Affairs (MoFA) and the Ministry of Finance (MoF) to support economic diplomacy is deemed as a bridge for Indonesian product exports to non-traditional markets. Through this MoU, the two ministries can strengthen cooperation that fosters the development of export destinations. Underdeveloped non-traditional markets will be cultivated through this initiative. This is one form of collaboration facilitated by the MoU between the two ministries. Until now, Indonesian products might not have accessed non-traditional markets due to limited information regarding their demands. The Ministry will provide support through their representations, offering data and information about the needs of markets that have not been adequately explored.
 
An illustrative case is the South Asian and African markets. Given the population in these regions, Indonesia's export sector should be highly advantageous. Thus, the focus lies in prioritising these markets and working alongside the representative offices to develop these non-traditional markets. The Minister of Foreign Affairs highlighted her focus on propelling Indonesian Micro, Small, and Medium Enterprises (MSMEs) onto the international stage. The intention to make MSMEs go global, in line with President Joko Widodo's vision, was expressed. Moreover, The Minister pointed out that Indonesian MSMEs actually represent the largest number in Southeast Asia. Regrettably, the contribution of Indonesian MSMEs to the economy is merely 15%. Indonesia lags behind Singapore, Malaysia, and Thailand, where the contributions of their MSMEs are significantly larger. Thus, through this MoU, the government supports MSMEs and their international market penetration.
 
Source: https://www.metrotvnews.com/read/NA0CXgoP-mou-diplomasi-ekonomi-kemenlu-kemenkeu-jembatani-ekspor-ke-pasar-non-tradisional