RI eyes gains in U.S.-S'pore free trade<\/p>\n
Adianto P. Simamora, The Jakarta Post, Bintan<\/p>\n
Indonesian manufacturers can expect to benefit from a planned
\nfree trade pact between the U.S. and Singapore, using the city-
\nstate as a jumping-off point for cheaper access to the U.S.
\nmarket.<\/p>\n
Visiting U.S. Trade Representative Robert Zoellik said that
\nthe Bintan industrial zone near Singapore may be the first to
\nbenefit from a free trade pact between the U.S. and the city
\nstate.<\/p>\n
More than 100 items of information technology products from
\nBintan may enter the U.S. market duty free if the deal comes
\nthrough, he said.<\/p>\n
\"For people in Indonesia, the benefit of a U.S. and Singapore
\nfree trade agreement should be greater investment, more jobs and
\nhigher experts,\" Zoellik told reporters on Friday.<\/p>\n
Zoellik was on a two-day visit on the Bintan island to meet
\nMinister of Industry and Trade Rini Soewandi, and Singapore Trade
\nMinister George Yeo.<\/p>\n
Many Singaporean companies owned plants in Bintan or Batam to
\ncapitalize on cheaper land and labor. Designated for export
\nmarkets, products from the two islands often find their way into
\nthe U.S. market.<\/p>\n
Singapore, depending on international trade to offset its
\nminimum natural resources, is trying to coax the U.S., which is
\nASEAN's largest export market, into forming a free trade pact.<\/p>\n
According to Zoellik, Bintan's integration into the free trade
\npact may be followed by other industrial zones such as Batam -
\nalso a base for Singapore manufacturers.<\/p>\n
\"This integrated sourcing initiative will make it possible for
\nover 100 IT (information technology) products to be shipped from
\nSingapore to the U.S. duty free without any extra paperwork,
\nwithout any extra fees, and without any extra red tape,\" he said.<\/p>\n
Singapore's trade minister Yeo said that the negotiation for a
\nfree trade agreement with the U.S. was in its final stage.<\/p>\n
\"This is a win-win arrangement that will benefit all parties
\nand improve ASEAN's competitiveness as an investment destination
\nfor U.S. companies vis-a-vis China,\" Yeo said.<\/p>\n
China is seen as a growing threat to economies in Southeast
\nAsian, attracting around US$45 billion in foreign direct
\ninvestment last year alone.<\/p>\n
Trade minister Rini said that the government saw \"great
\npotential\" to further improve Bintan and Batam's international
\ncompetitiveness.<\/p>\n
Zoellik meets President Megawati Soekarnoputri on Sunday.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/ri-eyes-gains-in-us-spore-free-trade-1447893297", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }