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Govt assures support to industry over FTA impact
22
Dec '09
Despite opposition from the domestic textile and clothing industry which also put up a proposal to delay the implementation date of the ASEAN- China FTA China, the government went ahead and signed the agreement, which brings it into effect from January 1, 2010.

But the Indonesian Industry Minister, Mr Hidayat assured the industry that new regulations would be implemented within a few months in order to protect the interests of the domestic producers in what is expected to be an invasion of Chinese products from January.

He said that, what is more important is for the government to prevent smuggling and to implement non-tariff measures such as safeguards and anti-dumping. Chinese products have long dominated local markets mainly due to their cost-competitiveness.

There are 314 tariff posts from eight sectors regulated under the FTA. The eight sectors include steel, textiles and textile products, electronics, footwear, furniture, organic chemicals, petrochemicals, foods and beverages.

A representative of a trade body said that, there will be new regulations, tightening of existing regulations; non-tariff measures, safeguards and other trade barriers and these regulations would be in place within the next six months.

Fibre2fashion News Desk - India


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