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Industry Minister wants postponement of China-ASEAN FTA
20 Aug '09
1 min read
The Minister of Industry, Fahmi Idris said that Indonesia should submit a proposal to postpone implementation of the newly signed Free Trade Agreement (FTA) between China and ASEAN bloc countries.
He said that Indonesia was not ready to participate in the FTA treaty since Indonesian companies were still not well prepared and competitive to face the influx of Chinese goods, once the treaty comes in to effect.
The FTA was signed between the ten countries of ASEAN and China on August 15 in Bangkok and is also binding on Indonesia. He cited three sectors which faced threat; textiles, steel and the machine tools industry.
He said that Indonesia was not ready to participate in the FTA treaty since Indonesian companies were still not well prepared and competitive to face the influx of Chinese goods, once the treaty comes in to effect.
The FTA was signed between the ten countries of ASEAN and China on August 15 in Bangkok and is also binding on Indonesia. He cited three sectors which faced threat; textiles, steel and the machine tools industry.
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