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Govt to help industries cope with ASEAN-China FTA
09
Apr '10
To help local industries, including textiles and footwear manufacturers that feel threatened from an ASEAN-China trade pact, the government has formed a committee, said Indonesian Trade Minister, Mari Pangestu.

Although, some Indonesian industry owners have brought on foyer, certain issues with respect to the entry of cheaper China-made goods, Pangestu assures that, these issues will not delay the agreement's implementation.

While attending the Association of Southeast Asian Nations (ASEAN) summit and other related meetings in Hanoi, Pangestu said, “Implementation of the ASEAN-China Free Trade Agreement (FTA) shall definitely sea the light of a new dawn.”

Industries such as textile and footwear manufacturers wanted government support, to cope with increasing competition. Therefore, assistance in terms of purchasing new machinery and the like will be given to them under this pact, said Pangestu.

With a market of 1.7 billion consumers, the ASEAN-China Free Trade area is the world's largest area by population. It is also a key area for ASEAN countries' efforts to establish their mark as a major trade bloc.

However, some Indonesian industry groups have protested that, they will not be able to compete with cheap Chinese imports and thus, have suggested delay in the elimination of protective tariffs on 228 product lines till 2012.

In order to continue, the agreement's implementation, Pangestu suggested internal co-ordination, to address issues faced by these sectors.

Fibre2Fashion News Desk - India


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