Interviews
Textile bodies in dark on final draft of China-ASEAN FTA
02 Jan '10
2 min read
Industry associations including the apex textile body, Indonesian Textile Association (API) are in the dark with regards to the final draft of the ASEAN-China Free Trade Agreement (ACFTA) which was implemented from yesterday.
According to these associations, they had submitted their individual proposals for modifications but have not been consulted on the final draft, which was submitted to the Office of the Coordinating Minister for the Economy last week.
As many as 6,682 tariff lines in 17 sectors, including 12 in manufacturing and five in agriculture, mining and maritime sectors will now attract zero tariffs. The finance minister had earlier confirmed that, all regulations on harmonization of import taxes of goods from China under ACFTA had been completed.
Last week the Industry Ministry submitted a proposal to postpone implementation of reductions on 228 tariff lines, a reduction from an earlier request to delay 309 tariff lines to the Office of Coordinating Minister for the Economy.
Acknowledging the concerns of industry, Coordinating Minister for the Economy Hatta Radjasa said the government is prepared to deploy various measures to protect local industries, but without violating any articles stipulated under the FTA.
Giving an example and in response of the concerns of the textile sector, Chinese Ambassador to Indonesia, Zhang Qiyue said that, textile industries will be able to purchase machinery at one third of the normal cost in order to upgrade their old machinery.
According to these associations, they had submitted their individual proposals for modifications but have not been consulted on the final draft, which was submitted to the Office of the Coordinating Minister for the Economy last week.
As many as 6,682 tariff lines in 17 sectors, including 12 in manufacturing and five in agriculture, mining and maritime sectors will now attract zero tariffs. The finance minister had earlier confirmed that, all regulations on harmonization of import taxes of goods from China under ACFTA had been completed.
Last week the Industry Ministry submitted a proposal to postpone implementation of reductions on 228 tariff lines, a reduction from an earlier request to delay 309 tariff lines to the Office of Coordinating Minister for the Economy.
Acknowledging the concerns of industry, Coordinating Minister for the Economy Hatta Radjasa said the government is prepared to deploy various measures to protect local industries, but without violating any articles stipulated under the FTA.
Giving an example and in response of the concerns of the textile sector, Chinese Ambassador to Indonesia, Zhang Qiyue said that, textile industries will be able to purchase machinery at one third of the normal cost in order to upgrade their old machinery.
Fibre2fashion News Desk - India
Popular News
Leave your Comments
Editor’s Pick
Esteemed Clients
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
