Import tariffs restructured<\/p>\n
JAKARTA (JP): The government has fully adjusted the
\nclassification of import goods into the new version of the
\nHarmonized System Convention.<\/p>\n
The Ministry of Finance announced yesterday that the
\nadjustment on the classification of import goods was made in line
\nwith the change in the Harmonized System, which was revised in
\n1992.<\/p>\n
The adjustment, contained in Ministry of Finance Decree No.
\n81\/KMK\/05\/1994, dated March 16, became effective on April 1.<\/p>\n
The ministry also said that existing import duties and
\nsurcharge tariffs will be valid until June 30 despite the change
\nin their classification. (hen)<\/p>\n
Sabah firm in N. Sumatra<\/p>\n
JAKARTA (JP): Kretam Holdings Berhad of Sabah, East Malaysia,
\nand two Indonesian companies, PT Ira Widya Utama and PT Camerindo
\nSakti International, will jointly develop a palm oil plantation
\nin Tapanuli Selatan, North Sumatra.<\/p>\n
The three companies agreed to establish a joint venture to
\noperate the planned plantation under an agreement signed in Medan
\nyesterday.<\/p>\n
Yopie S. Batubara, the president of Ira Widya Utama, said the
\njoint venture firm would invest around Rp 200 billion (US$95.2
\nmillion) for the plantation project and its processing plant.<\/p>\n
North Sumatra is part of a economic triangle being developed
\njointly by Indonesia, Malaysia and Thailand. The economic
\ncooperation also covers the western part of Malaysia and the
\nsouthern part of Thailand. (hen)<\/p>\n
RI to join PATA meeting<\/p>\n
JAKARTA (JP): Indonesia will attend the 43rd conference of the
\nPacific Asia Travel Association (PATA) to be held in Seoul on
\nApril 17-21.<\/p>\n
Minister of Tourism, Post and Telecommunications said at a
\nbriefing for the 50-member Indonesian delegation yesterday that
\nSouth Korean President Kim Young-San is scheduled to officially
\nopen the conference.<\/p>\n
Joop said the conference, which is focusing on investment and
\nfinance, will feature a former president of the United States,
\nGeorge Bush, as the key note speaker.<\/p>\n
Joop, who is currently chairman-elect of PATA for the 1994-
\n1995 period, said that Indonesia will use the event to market
\ndomestic tourism, including Indonesia's first tourist mart to be
\nheld in September.<\/p>\n
An executive of PATA's Indonesia chapter, Meity Robot, said
\nthe Indonesian delegation includes government officials,
\nexecutives of the chapter and reporters.(icn)<\/p>\n
Water exported to HK<\/p>\n
JAKARTA (JP): PT Pancasan Tirta and its subsidiary PT Air
\nBalige Alami have won a contract to export mineral water to Hong
\nKong.<\/p>\n
The two companies will export 20 containers of mineral water
\nworth US$81,000 monthly beginning next month under the contract
\nagreement signed here yesterday with its buyer Chi Wang Co Ltd.<\/p>\n
Pancasan Tirta, based in Banyumas, Central Java, produces
\naround 16 million liters of mineral water a year, while Air
\nBalige, which is located in Tapanuli, North Sumatra, has an
\nestimated annual production of 27 million tons. (hen)<\/p>\n
Sorini forms joint venture<\/p>\n
JAKARTA (JP): Sorini Corporation, a public company listed on
\nthe Jakarta and Surabaya stock exchanges, will form a joint
\nventure with Towa Chemical Industry Co. Ltd and Mitsubishi
\nCorporation Ltd, both of Japan, to produce liquid and powdered
\nsorbitol.<\/p>\n
The cooperation plan was approved by shareholders at a special
\nmeeting held yesterday at the company's headquarters in Pandaan,
\nEast Java.<\/p>\n
The joint venture, to be named PT Sorini Towa Berlian
\nCorporation, will produce 37,000 tons of liquid sorbitol and
\n7,000 tons of powdered sorbitol per annum.<\/p>\n
Sorini will have a stake of 50.1 percent, Towa 30 percent and
\nMitsubishi 19.9 percent in the new firm, which will invest around
\nUS$25 million for the sorbitol production.<\/p>\n
Sorini produces a number of chemical products made from
\ntapioca flour, such as powdered sorbitol, dextrine and dextrose
\nmonohydrate. (hen)<\/p>\n
Minister visits Myanmar<\/p>\n
JAKARTA (JP): Minister of Forestry Djamaloedin
\nSoeryohadikoesoemo leaves for Myanmar today for a four-day visit,
\nwhere he will meet with his counterpart, Lt. Gen. Chit Swe, to
\ndiscuss bilateral cooperation and to sign a forestry agreement.<\/p>\n
Myanmar's embassy here said yesterday that Djamaloedin will be
\naccompanied by Secretary General of the Ministry of Forestry
\nSugeng Notosaputro and other high ranking officials.<\/p>\n
During their stay, the delegation will pay courtesy calls on
\ngovernment leaders. They will also visit reforestation sites in
\nMyanmar's dry zone project and teak plantations.(10)<\/p>\n
Paris wants quota retained<\/p>\n
PARIS (Reuter): France tried to reassure anxious developing
\ncountries that Paris and Washington were not trying to use labor
\nissues to drive a wedge between rich and poor nations at a
\nmeeting of GATT trading nations next week.<\/p>\n
But in a potentially explosive step, Paris announced on
\nTuesday it was asking the European Union to maintain quotas on
\nvaluable textile imports from Indonesia, India and Pakistan
\nbecause they had failed to open their textile markets under a new
\nGATT treaty.<\/p>\n
France and the United States have largely patched up bitter
\ndifferences that divided them during the seven-year Uruguay Round
\nof GATT trade negotiations which ended last December.<\/p>\n
Together Paris and Washington are pushing for new global rules
\nbanning abusive labor practices they claim enable many developing
\ncountries to produce traded goods at cut-rate prices.<\/p>\n
On textiles, Longuet said Indonesia, India and Pakistan had
\nnot made significant market-opening pledges, and Paris was asking
\nthat longstanding EU quotas limiting textiles imports from those
\nthree countries not be dismantled.<\/p>\n
Rubber prices decline<\/p>\n
SINGAPORE (AFP): Singapore rubber futures prices retreated
\nfurther yesterday on arbitrage selling as Japanese traders took
\nadvantage of low prices in Japan and high prices here, dealers
\nsaid.<\/p>\n
\"In the morning Japanese traders sold off into the RSS 3
\nmarket which affected the RSS market but TSR 20 was not
\naffected,\" a dealer said, adding the afternoon session was quiet
\nwith RSS 1 and 3 staying at low levels.<\/p>\n
TSR 20 prices held as a result of a buyer trying to cover the
\nnearby contracts, the dealer said.<\/p>\n
At around 0930 GMT, RSS 1 was quoted at 149.50 Singapore
\ncents, RSS 3 at 91.75 US cents and TSR 20 at 159.00 Singapore
\ncents.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/import-tariffs-restructured-1447899208",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}