ASEAN KEY DESTINATIONS
Indonesian firms not ready for Asean-China FTA
The Indonesian Textile Association (API) has asked the government to delay implementing the Free Trade Agreement between ASEAN and China until 2015, back from the original schedule of 2010, citing a lack of preparation, reported the Jakarta Post.
API Vice Chairman Ade Sudrajat was quoted by the local daily as saying Tuesday that the local textile industry was not ready to fight head to head with Chinese competition, which enjoys a 10 percent cut in export tax.
“Other organisations have demanded that the Trade Ministry postpone implementing the agreement. We have followed suit, but have not yet received any response from the government,” he told tempointerak-tif.com.
The agreement will affect a huge market incorporating 1.9 billion people, and will cover the agriculture, technology information, tourism, energy, culture, manpower and environment sectors.
In 2007, trade volume between Asean and China reached $202.5 billion, almost double the $105.9 bil-lion exchanged in 2004.
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