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Indonesia-Mozambique PTA to see lowered tariff

30
Aug '19
Pic: Shutterstock
Pic: Shutterstock
Indonesian trade minister Enggartiasto Lukita and the Mozambique industry and commerce minister Ragendra Berta de Sousa recently signed the Indonesia-Mozambique Preferential Trade Agreement (IM-PTA) at the 55th International Trade Fair FACIM 2019 in the latter’s capital city Maputo. The PTA is the result of year-long negotiations between both sides.

The PTA was announced last month in Bali at the Indonesia-Africa Infrastructure Dialog (IAID). This counts as one of Indonesia’s quickest bilateral deal negotiation similar to another deal known as the Indonesia- Chile CEPA, which was accomplished within a year, according to global newswires.

The PTA will see Indonesia lowering 242 tariff posts while Mozambique will also do the same by lowering 217 of its tariff posts in trade on various commodities like fisheries, fruits, palm oil, margarine, rubber, soap, paper products and textile products. (DS)

Fibre2Fashion News Desk – India


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