No new import duty on fabrics from India, Vietnam: Jakarta
05 Jun 20 1 min read
Indonesia has exempted fabrics made in Vietnam and India and synthetic yarn and curtains made in South Korea and Hong Kong from new import tariffs imposed on some textile products from May this year till November 2022, according to the country’s finance ministry. The move aims at protecting the domestic upstream industry from a recent surge in imports.
In 2019, the Indonesian government imposed temporary additional duties on imports of textiles and textile products up to 67.7 per cent, according to Vietnamese media reports.
Moody’s Investors Service had earlier warned that the US-China trade tensions could lead to an influx of Chinese yarn, fabrics and garments into Indonesia, potentially disrupting the stable levels of demand and supply in the country.
In 2019, the Indonesian government imposed temporary additional duties on imports of textiles and textile products up to 67.7 per cent, according to Vietnamese media reports.
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Moody’s Investors Service had earlier warned that the US-China trade tensions could lead to an influx of Chinese yarn, fabrics and garments into Indonesia, potentially disrupting the stable levels of demand and supply in the country.
Fibre2Fashion News Desk (DS)
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