Indonesian president says ACFTA creates export opportunities
JAKARTA, Jan. 26 (Xinhua) -- Indonesian President Susilo Bambang Yudhoyono said the free trade agreement between ASEAN and China (ACFTA) would not threaten Indonesia's industries, but create opportunities for local business to export more goods, the Jakarta Post reported here on Tuesday.
He also said that the government would strengthen the competitiveness of local industries against inexpensive Chinese products flooding the local market, while pursuing renegotiation of some tariffs with China.
wholesale colthing"Don't think that with agreement we will be flooded by goods exported by China. We can export many our products. This is not a threat, but an opportunity. We can expand and raise our export," the president said here on Monday.
The ACFTA-based on an agreement signed in 2004, has been gradually fake rolex phased in and became fully effective since the beginning of this year -- introducing zero tariffs on 6,682 tariff posts in 17 sectors, including 12 in manufacturing and five in the agriculture, mining and maritime sectors.
According to the data issued by the Central Statistic Bureau ( BPS), Indonesia imported 12.01 billion
embroidered patches U.S. dollars of non-oil and gas products from China between January and November last year, down 14.7 percent from 14.08 billion U.S. dollars in the same period a year earlier.
Meanwhile, Indonesia exported to China 7.71 billion U.S. dollars of non-oil and gas products between January and November last year, 5.47 percent higher from 7.31 billion in the corresponding period in 2008.
Total exports between January and November last year were 86.64 billion U.S. dollars, or 13.71 percent from the same period in 2008, while imports were 69.69 billion U.S. dollars, down 24.22 percent.
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