ID :
92647
Tue, 12/01/2009 - 23:32
Auther :
Shortlink :
https://www.oananews.org//node/92647
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RI, PAKISTAN SOON TO FINALIZE DRAFT PTA
Geneva, Dec 1 (ANTARA) - Indonesia and Pakistan are set to finalize the draft of preferential trade agreement (PTA) during their talks in Bali later this month, an Indonesian official said.
"We will discuss it at a bilateral meeting in Bali this month," Director General of Foreign Trade at the Indonesian Trade Ministry Diah Maulida said on the sidelines of the 7th World Trade Organization (WTO) ministerial conference here on Tuesday.
The two countries have been committed themselves to signing the agreement at the end of this year. The agreement is aimed at enhancing trade relations between the world's two predominantly Muslim countries.
The Bali meeting scheduled for December 29 will be the sixth of its kind. Delegations of the two countries last held such a meeting in Islamabad.
Indonesian Trade Minister Mari Elka Pangestu who on Tuesday chaired a plenary session of the 7th WTO ministerial conference is also slated to meet with her Pakistani counterpart to discuss the planned PTA later in the day.
Products that become the focus of the PTA are crude palm oil (CPO) and Kino orange. Early this year, the two countries agreed in principle to reduce duties on the import of the two key commodities.
Pakistan has agreed to impose the same duty on its CPO imports from both Indonesia and Malaysia. The South Asian country has cut duty on its CPO imports from Malaysia by 10 percent.
In return, Indonesia will reduce duty on imported Kino orange to 5 percent during the November-March period.
Indonesia also has proposed the inclusion of several other products, such as paper, sorbitol and ceramics in the planned PTA. Meanwhile, Pakistan asked Indonesia to open its market for 42 more Pakistani products, including textiles, textile products and leather products.
Duty on the import of such products currently stand at 15 percent. Indonesia has agreed to lower it to 9 percent but Pakistan demanded it be cut up to 5 percent, or the same as that imposed on similar products from other ASEAN member states.***2***
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"We will discuss it at a bilateral meeting in Bali this month," Director General of Foreign Trade at the Indonesian Trade Ministry Diah Maulida said on the sidelines of the 7th World Trade Organization (WTO) ministerial conference here on Tuesday.
The two countries have been committed themselves to signing the agreement at the end of this year. The agreement is aimed at enhancing trade relations between the world's two predominantly Muslim countries.
The Bali meeting scheduled for December 29 will be the sixth of its kind. Delegations of the two countries last held such a meeting in Islamabad.
Indonesian Trade Minister Mari Elka Pangestu who on Tuesday chaired a plenary session of the 7th WTO ministerial conference is also slated to meet with her Pakistani counterpart to discuss the planned PTA later in the day.
Products that become the focus of the PTA are crude palm oil (CPO) and Kino orange. Early this year, the two countries agreed in principle to reduce duties on the import of the two key commodities.
Pakistan has agreed to impose the same duty on its CPO imports from both Indonesia and Malaysia. The South Asian country has cut duty on its CPO imports from Malaysia by 10 percent.
In return, Indonesia will reduce duty on imported Kino orange to 5 percent during the November-March period.
Indonesia also has proposed the inclusion of several other products, such as paper, sorbitol and ceramics in the planned PTA. Meanwhile, Pakistan asked Indonesia to open its market for 42 more Pakistani products, including textiles, textile products and leather products.
Duty on the import of such products currently stand at 15 percent. Indonesia has agreed to lower it to 9 percent but Pakistan demanded it be cut up to 5 percent, or the same as that imposed on similar products from other ASEAN member states.***2***
E014
