Deregulation package to be issued<\/p>\n
JAKARTA (JP): The government will soon issue a new package of
\nderegulation to further sharpen its competitive edge in
\nanticipation of trade liberalization in the Asia-Pacific region,
\nCoordinating Minister for Industry and Trade Hartarto said.<\/p>\n
After meeting with President Soeharto at the Merdeka Palace
\nhere yesterday, Hartarto said that the new deregulatory package
\nrepresents a down-payment to show its commitment to the action
\nplan declared by Asia-Pacific Economic Cooperation (APEC) leaders
\nin their third summit meeting in Osaka, Japan, earlier this
\nmonth.<\/p>\n
The minister said the deregulation is also aimed to meet the
\nrequirements of the ASEAN Free Trade Area (AFTA) agreement, which
\nwill be implemented by 2003.<\/p>\n
APEC's 18 members also agreed to liberalize trade and
\ninvestment by 2010 for developed member economies and by 2020 for
\ndeveloping members.<\/p>\n
\"We're working on it now. Hopefully, we can publish it later
\nthis year,\" he said, adding that the deregulation package
\ninvolves Coordinating Minister for Economy and Finance Saleh
\nAfiff, Minister of Industry Tunky Ariwibowo, Minister of Trade
\nSatrio B. Joedono, Minister of Finance Mar'ie Muhammad and
\nhimself.<\/p>\n
Asked about what sectors to be deregulated, Hartarto said that
\nthey will be announced soon. \"It won't be appropriate if I tell
\nyou in parts. Just wait. The deregulation team is currently hard
\nat work,\" he noted.<\/p>\n
Suggesting that the deregulatory package will be a broad-based
\none, he said it will include the reduction of tariff and non-
\ntariff barriers and measures to improve the efficiency of local
\ndistribution of goods.<\/p>\n
\"We stated in Osaka that we were already committed to cutting
\ntariffs and eliminating non-tariff barriers,\" he said.<\/p>\n
He expressed the hope that by the year 2003, the tariff
\nreductions will cover all posts agreed before by Association of
\nSoutheast Asian Nations (ASEAN).<\/p>\n
Initial actions<\/p>\n
In their third summit meeting in Osaka, APEC leaders presented
\ntheir respective \"initial actions\".<\/p>\n
The most striking ones of the initial actions were made by
\nIndonesia, China and Japan.<\/p>\n
China, promising a dramatic opening of its markets, planned to
\ncut tariffs on imports by 30 percent from next year.<\/p>\n
Japan said that it will bring forward planned tariff cuts on
\n697 industrial and mining products within two years, covering
\nUS$10 billion worth of imports a year. The country also promised
\n50 new deregulatory measures to improve foreign access to its
\nmarket.<\/p>\n
\"Tariff cuts originally scheduled to take effect in January
\n1998 will be applied in April next year to such items as
\ntextiles, chemicals, steel and non-ferrous metals,\" it said.<\/p>\n
The Indonesian government presented a deregulatory package on
\nMay 23, which promised hefty tariff reductions across the board
\nbetween now and 2003, setting maximum rates on most goods at
\nbetween five and ten percent down from the current 40 percent.<\/p>\n
The package also accelerated plans to eliminate tariff
\nsurcharges in 153 categories.<\/p>\n
Indonesia has also eliminated 61 of the 98 non-tariff barriers
\nwhich it is required to remove under the Uruguay Round. On both
\ntariff surcharges and non-tariff barriers, the Uruguay Round sets
\na 10-year deadline. Indonesia already removed many last May.(13)<\/p>",
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