Indonesian, Chinese ministers to talk ACFTA renegotiation

Indonesian Trade Minister Mari Elka Pangestu said Thursday that the renegotiation of the Asean-China Free Trade Agreement (ACFTA) will be finalised during her meeting with Chinese Trade Minister Chen Deming on Saturday, the Jakarta Post reported.

“We will finalised various matter. There's a good development that we will detail in the meeting,” she told journalists as quoted by Antara state news agency in Jakarta.

Mari said that the meeting would be a continuation of the talks over 228 tariff lines for renegotiation proposed by Indonesia.

“The meeting will be important to prepare agreement and action program, which will be the follow up of a strategic partnership between the two parties for the next five to 10 years,” she said.

The ACFTA, based on an agreement signed in 2004 and fully effective as of Jan. 1 this year, has introduced zero tariffs on 6,682 tariff posts in 17 sectors, including 12 in manufacturing and five in agriculture, mining and maritime sectors.

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