Briefs

Indonesian President Joko Widodo has asked the trade ministry to pool all the promotion funds currently held by 17 government institutions so that promotion activities could be expanded to non-traditional markets such as India, Africa and Latin America.
“Carry out trade promotion now. So, when the global economy is recovering, we can boost our exports,” he told reporters after he officially opened the 31st Indonesia Trade Expo in Kemayoran, Jakarta, on Wednesday. He said that at present, Indonesia was focusing on traditional markets such as Europe, Japan and the US. With the global economic slowdown, Indonesia needed to find new markets for non-oil and gas commodities.
He also emphasised the need of the quality and designs in order to win the|market. –The Jakarta Post

VN to join Bangkok gift fair
Vietnamese companies will come to Thailand to join the 42th Bangkok International Gift Fair 2016 and Bangkok International Houseware Fair 2016.
The exhibition, one of Asean’s leading international trade fairs for trendy gifts and lifestyle products, will be held at the Bangkok International Trade and Exhibition Centre (BITEC) between October 19 and October 23.
Of these, trade days will be held from October 19 to 21 and public days from October 22 – 23. The organisers expect to welcome nearly 60,000 visitors over the course of the exhibition.
Approximately 600 companies from Thailand, Taiwan, Myanmar, Laos, Cambodia, Japan, Viet Nam, Indonesia, Russia, England and South Korea will participate in the event.
Latest design products from both domestic and overseas firms will be displayed at 1,600 booths over an exhibition area of 40,000 sqm.
The event is organised by Department of International Trade Promotion, Ministry of Commerce, Royal Thai Government Office of Fashion and Lifestyle Business Development. — Viet Nam News

Advice to steel sector
Malaysia’s Deputy Minister of International Trade and Industry Datuk Ahmad Maslan has urged the steel sector to consolidate to remain resilient and |sustainable while industry players believe the worst is over.
“Steel industry must seriously look into the need of consolidation,” he said at the 12th Conference on Status and Outlook of the Malaysian Iron and Steel Industry yesterday.
“Apart from mergers and acquisitions, the industry can consider domestic partnership for potential joint venture to realign production to meet demand in both domestic and export markets,” Ahmad Maslan said.
The local steel industry has been suffering from overcapacity due to influx of China's steel imports.
According to Malaysia Iron and Steel Industry Federation (MISIF), imports from China increased from 900,000 tonnes in 2011 to 3.4 million tonnes in 2015.
The price slump and the flood of cheap steel from China at below-cost price in the global market had led to the fall in utilisation capacity of local steel mills to 40 per cent between 2013 and 2015.
However, MISIF president Datuk Soh Thian Lai said that “the worst is over” for |the steel sector on the back of recovery in global steel prices.
“Steel price is on the way to recovery as China is cutting their production,” he told reporters.—The Star