Home / Knowledge / News / Textiles / Indonesia wants to join TPP as Vietnamese threat looms
Indonesia wants to join TPP as Vietnamese threat looms
12
Oct '15
As Indonesia makes a belated bid to join the US-led Trans Pacific Partnership, the country's Trade Minister Thomas T. Lembong has appealed for widespread support to join the trade bloc within two years, according to media reports.

He said firms would continue to invest in Southeast Asia's largest economy as long as there was certainty that it would eventually be part of the TPP free trade agreement and conclude a similar pact with the European Union.

"If the government can give that, in 2-3 years we would have TPP and the European [agreement], they will keep on investing in Indonesia," he said.

The Indonesian government was initially opposed to joining the TPP, but has changed its stance under President Joko Widodo, who took office in October last year.

Widodo is scheduled to meet US President Barack Obama on October 26 in his first presidential visit to Washington, during which he will discuss business and investment ties.

Last week, 12 Pacific Rim countries reached an agreement for the most ambitious trade pact in a generation, aiming to liberalize commerce in 40 per cent of the world's economy.

For now, Indonesia's is worried about Vietnam being part of the TPP. Lembong said that Vietnam would pose the biggest threat and competition to Indonesia in the textile and shoe industry after that country joined the TPP.

Thomas said that by joining the US-initiated pact, Vietnam's products would be more competitive in the Indonesian market in the upcoming ASEAN Economic Community (AEC), starting December 2015.

“Indonesia's textile market in the US and Japan could be taken over by TPP members,” he warned.

Indonesia's is going through a stubborn economic slowdown and cheaper Vietnamese products will only make things worse for the country. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search