Jakarta, 18 November 2021 -- The collaboration of four institutions was mobilized to open the Philippine market for micro, small and medium enterprises (MSMEs). This collaboration is carried out by PT Bank Negara Indonesia (Persero) Tbk (BNI) which carries BNI Xpora, the digital B2B e-commerce platform MadeinIndonesia.com, the Embassy of the Republic of Indonesia for the Philippines in Manila, to the West Java Industry Service. This step is taken to find a niche for foreign business growth that will accelerate the expansion of MSMEs to the world market during the year-end economic recovery period.
This time, MSMEs producing health and beauty products from Indonesia were met with prospective buyers from the Philippines through the Export Product Business Meeting facilitated by BNI Xpora and three of its partners. This business meeting for exports is also a form of implementing the BNI Xpora program to facilitate exports. Collaboration with MadeinIndonesia.com will further strengthen business strategies that focus on improving access and financial services for MSME actors. This Business Meeting was held virtually on Thursday (18 November 2021).
BNI’s MSME Business Director, Muhammad Iqbal said, all BNI Xpora facilities can be enjoyed by exporters who are members of the MadeinIndonesia.com e-commerce platform. This time the Philippines was chosen because the demand for health and beauty products from the country is quite large. Meanwhile in Indonesia, MSME players have been able to produce unique, distinctive, and high-quality health and beauty products which are certainly suitable for people in the Southeast Asian region, especially the Philippines.
“This strategic collaboration is one of BNI's commitments to play an active role as the main banking partner or preferred bank, in providing total banking solutions and assistance for export-oriented businesses, especially SMEs. The goal is to be able to develop its production capacity in order to penetrate the global market,” said Iqbal, Thursday (18/11/2021).
Iqbal said, in this business meeting, one of BNI Xpora facilities that can be used includes trade finance services, in the form of an export advisory Letter of Credit (L/C) which will be issued by the buyers for several shipments of these health and beauty products.
Through BNI Xpora, MSMEs also receive support in the form of increasing production capacity and quality, education in the preparation of financial reports, to support for product marketing access abroad through business matchmaking with buyers in the global market. In addition, BNI Xpora also provides digital features in the form of Fast Trex financing with lower collateral and costs, specifically for export players.
Furthermore, Iqbal said that BNI's collaboration with various parties is also part of the focus of BNI's international business development, which is one of the company's transformation agendas. BNI's international business strength is shown, among others, by the network of Overseas Branch Offices (KCLN) located in 6 world financial centers, namely Singapore, Hong Kong, Tokyo, London, New York, and Seoul.
"Our Overseas Branch Offices (KCLN) also play an important role in providing market insight advisory services and local regulations related to custom and tax, providing special financing schemes for Indonesian business actors ranging from Corporate, Medium, and Small scales so that they are able to penetrate the global market and advance class," added Iqbal.
Overview of BNI Xpora
BNI Xpora was launched for the first time in conjunction with the Indonesia Trade Expo Indonesia (TEI) 2021 Opening Ceremony which was carried out by the Ministry of Trade of the Republic of Indonesia in Jakarta, 21 October 2021. The event was attended by the President of Indonesia, Joko Widodo, the Trade Minister, Muhammad Luthfi and other ranks of the Indonesian Advanced Cabinet Ministers.
BNI Xpora is BNI's one stop shopping solution for SME business players who want to develop their business to Go Productive, Go Digital, and Go Global SMEs. Digital Platform Xpora is a BNI one stop shopping tool for prospective SMEs who want to start a business and SMEs who want to develop their business.
About BNI Smart Trade
BNI Smart Trade is here to serve the needs of Trade both domestically and overseas (Export-Import) with the Tagline: "Bridging Indonesia and the World".
BNI Smart Trade products include: Letter of Credit, Domestic Documentary Letter of Credit (SKBDN), Standby Letter of Credit (SBLC), Demand Guarantee, Counter Guarantee and Supply Chain Financing based on Open Account Financing.
BNI's Trade Finance services are supported by a reliable digital system through BNI Trade Online which is integrated with BNI Direct (cash management platform), an extensive international network and the only bank from Indonesia that has a global network through 9 Foreign Offices in 6 countries including in Singapore, Hong Kong, Tokyo and Osaka in Japan, London, New York and Seoul, 30 Remittance Representatives in 8 countries, and more than 1,400 correspondent banks.
BNI serves all customers through more than 137,000 networks (BNI ATMs, Agen46, and Business Centers) as well as 50 Trade Finance Officers (TFOs) and Treasury Hubs spread across Regional Offices throughout Indonesia to provide advisory on Trade Finance and International Trade.
During the January to September 2021 period, BNI recorded a volume of 38.86 billion USD, grew 45.22% and continued to experience a stronger growth trend in line with the recovery in economic performance.
The awards it has received include: The Best Trade Finance Bank in Indonesia from The Asian Banker 2014 – 2015 and The Best Trade Finance Bank in Indonesia form Alpha South East Asia Magazine 2010 – 2021 for 11 consecutive years.
For more information, please contact:
BNI Corporate Secretary