InfoSAWIT, NEW DELHI –Secretary of Trade, Indonesian Republic, Enggartiasto Lukita and Secretary of Trade and Industry, India, Suresh Prabu discussed the crude palm oil (CPO) tariff, on Monday (25/9) in New Delhi, India. Both Secretaries met in the secondIndonesia-India Biennial Trade Ministers’ Forum (BTMF). Secretary Enggartiasto and Secretary Suresh also discussed the ways to increase the cooperation in trade and investment.
“The meeting of the two Secretaries is strategic for the two countries have close historical, economical, and social relation and the leaders of the countries committed to increase the relationship in every sector, including in trade and investment,” Enggartiasto said.
The focus of BGMF is to discuss the bilateral trade issue, follow up the result of the first BTMF, and follow up the result meeting of the two leaders in December 2016. Indonesia and India did BTMF in the last 6 years, on October 4th 2011 in Jakarta.
“Indonesia discussed the increasing of incoming tax for CPO from 7,5% to be 15% and its derivative (olein) from 15% to be 25%. This decreased the competitiveness of the mainstay export product from Indonesia to India. Besides we also discussed about the other products, such as, areca nut, coffee, rubber and essential oil that have high tariff though the products are needed for the industries in India. India noticedthe complaint from Indonesia and is ready to discuss it in the next RCEP meeting,” Secretary Enggartiasto said in the official statement to InfoSAWIT.
Before the Minister’s Forum, there was Senior Officials Meeting. In the meeting, the delegation from Indonesia was led by General Director of International Trade Negotiation, ImanPambagyo and delegation of India was led by Joint Secretary, Department of Commerce and Industry, Ministry of Commerce and Industry of India, Shri Rajneesh.
In the series of BTMF, Secretary Enggar also did roundtable meeting. The meeting involved the importers from India and the businessmen from Indonesia running palm oil, and coffee sectors. The discussion was potential to increase palm oil trade, and the increasing trade of processed coffee, and special coffee that start increasing in India.
For information, data from Central Statistics Agency in 2016 mentioned, the total trade of both countries reached US$12,9 billion. The trade balance between Indonesia-India in 2016 was surplus for Indonesia reaching US$7,2 billion.
The exports from Indonesia to India in January -June 2017 reached US$6,9 billion or increased 51,22% from the same period in the previous year, reaching US$4,5 billion. While the import of Indonesia from India in January -June 2017 reached US$1,9 billion or increased 49,10% from the same period in last year that reached US$1,3 billion.
Kinds of mainstay commodity to export from Indonesia to India in 2016 werepalm oil, and derivatives, coal, copper ore, natural rubber, and industrial monocarboxylic fatty acids. Kinds of import India to Indonesia in 2016 were cyclic hydrocarbons, bean, cow frozen meat, stainless steel canai floor within 600 mm in width, and organic synthetic color material. (T2)
