Tuesday, 18 December 2018 | 01:43 WIB

GFE Signs Fisheries Export Deal of $143 Million with Daelim Corporation

GFE Signs Fisheries Export Deal of $143 Million with Daelim Corporation (valid)

JAKARTA NNC - A deal for Indonesian fishery products worth US $143 million for the South Korean market has just been reached. This achievement was obtained through a purchase contract between Daelim Corporation from South Korea and Indonesia-based exporter Global Fisheries Exchange (GFE).

"The signing of this purchase contract contributes greatly to Indonesia's export performance. The purchase contract will be carried out within a five-year deadline. This proves that Indonesia can meet the supply needs of fishery products in South Korea," said Kusuma Dewi, Head of the Busan Indonesian Trade Promotion Center, in a press release received in Jakarta on Friday (07/12).

Dewi also conveyed that the Indonesian Ambassador to South Korea Umar Hadi was happy and welcomed the results.

On a different occasion, Umar Hadi conveyed that 45 percent of Indonesia's exports to South Korea were still oil and gas-based export. Therefore, diversification of export commodities was needed to reach trading value of $30 billion by 2022.

"One potential product is fisheries, considering that Indonesia is an archipelago with an ocean area larger than land area," Umar said.

Dewi hopes that the existing cooperation can be further improved, and Indonesian fishery products can be more acceptable to the people of South Korea. "The export opportunities for Indonesian fishery products are still very large. This is due to South Korea's predilection for seafood, especially in Busan which is famous for odeng and ommuk," Dewi added.

GFE is a company based in South Minahasa, with fishing areas in North Sulawesi and Maluku. The company started its business three years ago, and focused on cooperation and empowerment of small fishermen through the provision of training ranging from catching methods to handling post-capture fisheries products.

The company continues to replicate the training of these small fishermen throughout Indonesia so as to be able to obtain maximum results from marine fish biomass which is now increasingly large which is the impact of legal and sustainable fishing policies promoted by the Indonesia Ministry of Maritime Affairs and Fisheries.

Meanwhile, Daelim Corporation is the 17th largest company in South Korea, which is engaged in construction. Daelim Corp. has also diversified its business in the fisheries sector and has invested $200 million in Russia.