ID :
69099
Sat, 07/04/2009 - 21:45
Auther :
Shortlink :
https://www.oananews.org//node/69099
The shortlink copeid
MINISTER HOPES PTA TALKS WITH PAKISTAN COMPLETED LATE 2009
Jakarta, July 4 (ANTARA) - Trade Minister Mari Elka Pangestu
has expressed hope that negotiations on a Preferential Trade Agreement (PTA) with Pakistan could be completed before the end of this year.
"We are still negotiating, it has reached the final round, and it's targeted to finish before the end of this year," she said on the sidelines of her visit to Glodok traditional market, here on Saturday.
A day earlier, the trade minister received executives of the Indonesian Oil Palm Businessman Association (Gapki) in her office to discuss about the issue.
Gapki Executive Director Fadhil Hasan said his organization urged the government to immediately complete negotiation on PTA with Pakistan in order to boost Crude Palm Oil (CPO) exports to the south Asian country.
"For the first five months of 2009, our CPO exports to Pakistan tumbled up to 100,000 tons due to the difference in import tax with Malaysia," Fadhil Hasan said.
He explained that Pakistan applied 5 percent import tax for CPO from Malaysia, and 10 percent for Indonesia's CPO.
"We want the same treatment," the businessman said.
The Indonesian Government has agreed on the lowering of import tax for Pakistan's Kino oranges, in return to the import tax cut for Indonesia's CPO.
The tradeoff on the lowering of tariffs will mostly benefit Indonesia, which has enjoyed a huge trade surplus with Pakistan.
In the first 11 months of 2008, Indonesian exports, mainly palm oil, coal and tea, to Pakistan reached US$887.91 million, while its imports from Pakistan stood at $60.22 million.
The PTA comes at a difficult time and as a boon to declining Indonesian exports, which contribute a third of the GDP, due to the current global financial crisis.
Indonesia is currently looking for more non-traditional markets as it seeks to ride out the crisis. ***
has expressed hope that negotiations on a Preferential Trade Agreement (PTA) with Pakistan could be completed before the end of this year.
"We are still negotiating, it has reached the final round, and it's targeted to finish before the end of this year," she said on the sidelines of her visit to Glodok traditional market, here on Saturday.
A day earlier, the trade minister received executives of the Indonesian Oil Palm Businessman Association (Gapki) in her office to discuss about the issue.
Gapki Executive Director Fadhil Hasan said his organization urged the government to immediately complete negotiation on PTA with Pakistan in order to boost Crude Palm Oil (CPO) exports to the south Asian country.
"For the first five months of 2009, our CPO exports to Pakistan tumbled up to 100,000 tons due to the difference in import tax with Malaysia," Fadhil Hasan said.
He explained that Pakistan applied 5 percent import tax for CPO from Malaysia, and 10 percent for Indonesia's CPO.
"We want the same treatment," the businessman said.
The Indonesian Government has agreed on the lowering of import tax for Pakistan's Kino oranges, in return to the import tax cut for Indonesia's CPO.
The tradeoff on the lowering of tariffs will mostly benefit Indonesia, which has enjoyed a huge trade surplus with Pakistan.
In the first 11 months of 2008, Indonesian exports, mainly palm oil, coal and tea, to Pakistan reached US$887.91 million, while its imports from Pakistan stood at $60.22 million.
The PTA comes at a difficult time and as a boon to declining Indonesian exports, which contribute a third of the GDP, due to the current global financial crisis.
Indonesia is currently looking for more non-traditional markets as it seeks to ride out the crisis. ***
