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Exclusion of steel products from FTA with China proposed.

The Industry Ministry recommends exclusion of steel products in 100 tariff categories from the Asean-China free trade agreement (FTA). The recommendation is based on proposal from the Indonesian Iron and Steel Industry Association (IISIA), Metal, Textile Machine Director General Ansari Bukhari said. Under the Asean-China FTA, the import duties on steel products in the 100 tariff categories are to be scrapped from 5%-15% to zero in 2010. Earlier the association asked for the postponement of the implementation of the agreement until 2018 and now the producers propose the exclusion, Ansari said. The Industry Ministry has sent a letter about the proposal to the Trade Ministry, Ansari said. Indonesian Ambassador to China Sudrajat said Beijing leaves the decision to the Indonesian government on when the agreement is to be made effective. Meanwhile, the Indonesian Chamber of Commerce and Industry (Kadin) calls for postponement of the signing of bilateral free trade agreement (FTA) with Australia. Indonesia still needs more preparations to be ready to have bilateral FTA with other countries, Kadin general chairman MS Hidayat said. Currently joint study is being carried out by both sides about opportunities and potentials of the agreement , Hidayat said. Deputy General Chairman of Kadin John A Prasetio said Indonesia needs to study the advantages and disadvantages of having FTA with other countries.
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Title Annotation:ECONOMIC NEWS IN BRIEF
Publication:Indonesian Commercial Newsletter
Date:Sep 1, 2009
Words:217
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