Sun, 26 Nov 2006
Jakarta (ANTARA News) - Indonesia and Japan will open their markets to each other by cutting import duties on 90 percent of their tariff posts after they have signed an Economic Partnership Agreement (EPA), an Indonesian cabinet minister said.

"The EPA is a comprehensive agreement under which the two countries will open their markets to 90 percent of each other`s tariff posts," Trade Minister Mari Elka Pangestu said here on Friday.

Some of the tariff posts would be reduced to nil percent, while others would be cut in stages within a period of three to 10 years.

"Import duties on goods included in the list of sensitive products will be cut within a period of 10 years or more," the minister said.

Meanwhile, the remaining 10 percent of the tariff posts would be put in the exclusion list as they were considered to be crucial products in need of protection.

The agreement would also include clauses on bilateral cooperation which provided for technical assistance and capacity building programs to improve Indonesia`s product competitiveness and ability to attract foreign investors.

"For Indonesia, we hope that Japanese investments will increase. And the products and investments which will come to Indonesia, could support the existing investments," the minister said.

The minister hoped that the Bill on Investment being discussed by the House of Representatives (DPR) could be passed as soon as possible so it could help induce the conclusion of the EPA.

Mahendra Siregar, a deputy to the Coordinating Minister for Economic Affairs, said the Investment Bill and amendments to the Negative Investment List (DNI) were significant factors in the completion of EPA negotiations.

Mahendra , an Indonesian negotiator on the investment clauses in the EPA, said the Indonesia-Japan Joint Forum on Investment had produced a Strategic Investment Action Plan (SIAP).

EPA negotiations had so far been held six times since July 2005 in Bali, and the last round was done in Tokyo in October 2006.

The negotiations were expected to reach their final stage next week when President Susilo Bambang Yudhoyono visits Japan.

Trade Minister Pangestu estimated the EPA would be signed in the middle of 2007.

The signing of EPA would guarantee Indonesia`s access to the Japanese market s and put Indonesia on the same level as Singapore, Malaysia and the Philippines which had signed similar agreements with Japan.(*)



News Search/Filter
Transaction Rates
22 Jul 18
Buy
Sell
AED1
3,897.35
3,897.35
AFN1
196.38
196.38
ALL1
133.47
133.47
AMD1
29.81
29.81
ANG1
7,753.99
7,753.99
AOA1
55.94
55.94
ARS1
519.14
519.14
AUD1
10,613.64
10,613.64
AWG1
8,002.03
8,002.03
AZN1
8,408.62
8,408.62
BAM1
8,586.19
8,586.19
BBD1
7,157.84
7,157.84
BDT1
170.57
170.57
BGN1
8,586.68
8,586.68
BHD1
37,907.47
37,907.47
BIF1
8.01
8.01
BMD1
14,315.68
14,315.68
BND1
9,474.38
9,474.38
BOB1
2,085.99
2,085.99
BRL1
3,798.27
3,798.27
BSD1
14,315.68
14,315.68
BTC1
106,439,240
106,439,240
BTN1
209.17
209.17
BWP1
1,391.67
1,391.67
BYN1
7,214.35
7,214.35
BZD1
7,117.75
7,117.75
CAD1
10,885.64
10,885.64
CDF1
8.85
8.85
CHF1
14,420.01
14,420.01
CLF1
595,246.63
595,246.63
CLP1
21.66
21.66
CNH1
2,111.86
2,111.86
CNY1
2,114.38
2,114.38
COP1
5.00
5.00
CRC1
25.22
25.22
CUC1
14,315.68
14,315.68
CUP1
561.39
561.39
CVE1
151.56
151.56
CZK1
648.69
648.69
DJF1
80.41
80.41
DKK1
2,252.02
2,252.02
DOP1
288.74
288.74
DZD1
121.66
121.66
EGP1
799.75
799.75
ERN1
945.59
945.59
ETB1
517.55
517.55
EUR1
16,790.85
16,790.85
FJD1
6,778.42
6,778.42
FKP1
18,800.80
18,800.80
GBP1
18,800.80
18,800.80
GEL1
5,851.63
5,851.63
GGP1
18,800.80
18,800.80
GHS1
2,985.54
2,985.54
GIP1
18,800.80
18,800.80
GMD1
297.93
297.93
GNF1
1.57
1.57
GTQ1
1,909.41
1,909.41
GYD1
68.89
68.89
HKD1
1,823.66
1,823.66
HNL1
595.74
595.74
HRK1
2,271.41
2,271.41
HTG1
213.21
213.21
HUF1
51.55
51.55
IDR1
1.00
1.00
ILS1
3,945.46
3,945.46
IMP1
18,800.80
18,800.80
INR1
208.23
208.23
IQD1
12.08
12.08
IRR1
0.32
0.32
ISK1
134.69
134.69
JEP1
18,800.80
18,800.80
JMD1
109.73
109.73
JOD1
20,177.02
20,177.02
JPY1
128.47
128.47
KES1
142.27
142.27
KGS1
209.76
209.76
KHR1
3.52
3.52
KMF1
34.07
34.07
KPW1
15.90
15.90
KRW1
12.69
12.69
KWD1
47,317.21
47,317.21
KYD1
17,167.72
17,167.72
KZT1
41.59
41.59
LAK1
1.71
1.71
LBP1
9.47
9.47
LKR1
90.11
90.11
LRD1
93.41
93.41
LSL1
1,066.69
1,066.69
LYD1
10,447.91
10,447.91
MAD1
1,517.69
1,517.69
MDL1
857.71
857.71
MGA1
4.26
4.26
MKD1
272.41
272.41
MMK1
9.94
9.94
MNT1
5.86
5.86
MOP1
1,772.05
1,772.05
MRO1
40.21
40.21
MRU1
399.32
399.32
MUR1
416.15
416.15
MVR1
929.58
929.58
MWK1
19.70
19.70
MXN1
752.53
752.53
MYR1
3,523.87
3,523.87
MZN1
242.04
242.04
NAD1
1,066.69
1,066.69
NGN1
39.87
39.87
NIO1
451.74
451.74
NOK1
1,750.19
1,750.19
NPR1
130.73
130.73
NZD1
9,743.25
9,743.25
OMR1
37,191.12
37,191.12
PAB1
14,315.68
14,315.68
PEN1
4,371.20
4,371.20
PGK1
4,364.12
4,364.12
PHP1
268.74
268.74
PKR1
111.56
111.56
PLN1
3,885.64
3,885.64
PYG1
2.51
2.51
QAR1
3,931.69
3,931.69
RON1
3,605.78
3,605.78
RSD1
142.30
142.30
RUB1
225.54
225.54
RWF1
16.47
16.47
SAR1
3,817.46
3,817.46
SBD1
1,815.32
1,815.32
SCR1
1,057.95
1,057.95
SDG1
797.84
797.84
SEK1
1,617.18
1,617.18
SGD1
10,508.46
10,508.46
SHP1
18,800.80
18,800.80
SLL1
2.19
2.19
SOS1
24.91
24.91
SRD1
1,919.50
1,919.50
SSP1
109.89
109.89
STD1
0.68
0.68
STN1
675.26
675.26
SVC1
1,634.87
1,634.87
SYP1
27.79
27.79
SZL1
1,066.69
1,066.69
THB1
430.98
430.98
TJS1
1,530.97
1,530.97
TMT1
4,078.56
4,078.56
TND1
5,430.80
5,430.80
TOP1
6,154.79
6,154.79
TRY1
2,988.10
2,988.10
TTD1
2,125.58
2,125.58
TWD1
468.07
468.07
TZS1
6.28
6.28
UAH1
545.16
545.16
UGX1
3.85
3.85
USD1
14,315.68
14,315.68
UYU1
462.36
462.36
UZS1
1.83
1.83
VEF1
0.13
0.13
VND1
0.62
0.62
VUV1
131.22
131.22
WST1
5,521.10
5,521.10
XAF1
25.59
25.59
XAG1
222,091.17
222,091.17
XAU1
17,634,710.43
17,634,710.43
XCD1
5,297.10
5,297.10
XDR1
20,045.25
20,045.25
XOF1
25.59
25.59
XPD1
14,173,942.16
14,173,942.16
XPF1
140.70
140.70
XPT1
11,860,548.12
11,860,548.12
YER1
57.19
57.19
ZAR1
1,066.35
1,066.35
ZMW1
1,463.28
1,463.28
ZWL1
44.40
44.40
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services