Indonesia to help industries affected by free trade agreement
Indonesia no longer plans to renegotiate the ASEAN free trade agreement with China (ACFTA) and will instead find ways to assist local industries most impacted by the change.
The powerful Indonesian Chamber of Commerce and Industry (Kadin), however, is still pushing for a delay in the implementation of ACFTA, claiming many manufacturers are not ready to compete with their Chinese counterparts.
Government assistance might take the form of loans and facilities for capacity building some industries. A working committee consiting of representatives from relevant business and economic ministries will also monitor trade developments between Indonesia and China, while China itself has promised “sustainable” and “balanced” trade, saying it will accept more imports from Indonesia should a trade surplus widen.
article & source: The Jakarta Globe
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