Posted by: mel | January 4, 2010

Indonesia Forms Team With Businesses to Monitor China-Asean Free Trade: Minister

Jakarta Globe | 4 January 2010

Security officers arrange shipping containers at Tanjung Priok Port in North Jakarta. (Photo: Safir Makki, JG)

The Indonesian government has formed a team with the nation’s business associations to monitor the free trade agreement between China and Southeast Asian nations, which came into force on Friday.

The team was founded to monitor possibilities of violations or unfairness in the China-Asean Free Trade Area (CAFTA), Coordinating Minister for the Economy Hatta Radjasa said on Monday.

Hatta said he had discussed and coordinated on the team with Indonesian business associations. He said that some associations were not ready for the CAFTA, but he believed the best strategy to deal with the free trade agreement was not to delay it, but to continue to strengthen the nation’s industries.

“I have met with business associations and we agreed to focus more on national industries. We formed a team to prevent unfair treatment that could cause injury to our businesses. When unfairness happens, we can take action. We have a system to protect our business and industry,” Hatta told Metro TV on Monday.

The Indonesian government will also apply non-tariff regulations on the deal, including setting certain standards on goods imported from China. For example, the government will demand Chinese steel suppliers to increase their product standard before their goods can enter the Indonesian market.

JG

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