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Home  >>  Daily News  >>  Indonesia News  >> Trade  >> Indonesia requests China to renegotiate trade deal

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10 February 2010

Indonesia requests China to renegotiate trade deal

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Indonesian Industry Minister MS Hidayat said the government had sent a letter to the Chinese government on an attempt to renegotiate the Asean-China Free Trade Area (ACFTA) agreement, the Antara news agency reported.

"The latest development on efforts to renegotiation of the ACFTA agreement is that (Director General for International Trade) Gusmardi has sent a letter on the request for renegotiation but this will, of course, need a process," the minister said here on Tuesday.

He said that the next step that the director general would do would be to conduct negotiations with other member countries of the Association of Southeast Asian Nations (Asean).

"There will a process before the negotiations could be held but I think Pak (Mr) Gusmardi has been communicating with the Chinese government," the minister said.
He said that so far he had not seen any indications that the efforts to hold negotiations would fail.

"If the efforts have failed Pak Gusmardi would not be so quiet," he added.
He said that what was important to be done now was to supervise the latest conditions of industries at home. This was because the free trade area would continue to affect them from time to time.

Hidayat said that industries which were most sensitive to the free trade impact were steel because steel products consisted of 106 types.

Therefore, industry associations are expected to carry out protections for their respective business sectors.

The minister said the growth of steel industry had been showing a continuous downward trend. In 2009, this industry experienced a minus growth of 6.7 percent.

"We hope that the minus growth would be reduced in 2010 because there would be new industry development. Posco and Krakatau Steel will sign a joint venture agreement later next month. This means that this sector will begin to show its dynamism," the minister said.

 

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