Singapore in trade dispute over Indonesian export figures<\/p>\n
Agence France-Presse
\nSingapore<\/p>\n
Singapore and neighboring Indonesia are in dispute over
\ndiscrepancies in their bilateral trade figures, it emerged
\nSunday.<\/p>\n
The two have clashed over an apparent 2.49 billion US dollar
\ngap in the figures compiled by Indonesia and Singapore for
\nIndonesian exports to the city-state.<\/p>\n
The spat emerged in a letter dated July 4 to Indonesian trade
\nminister Rini MS Soewandi in which Singapore Trade and Industry
\nMinister George Yeo refuted allegations that the city-state has
\nnot been transparent about its trade figures with Indonesia.<\/p>\n
Discrepancies in trade data statistics between two countries
\nare due to the different systems used to gather the figures and
\nshould not \"surprise statisticians\", Yeo said in the letter, made
\navailable to media over the weekend.<\/p>\n
\"As I explained to you in Khon Kaen (Thailand), discrepancies
\nin the trade statistics of two countries should not surprise
\nstatisticians,\" Yeo said.<\/p>\n
The two ministers had met in Thailand on the sidelines of an
\nAPEC meeting last month.<\/p>\n
\"It depends on the basis of compilation and other factors.
\nEven when countries collect trade statistics on the same basis,
\ntime lags in capturing of data and valuation differences will
\nlead to discrepancies,\" he said in response to a June 16 letter
\nfrom his Indonesian counterpart.<\/p>\n
Yeo said the city-state also has significant trade
\ndiscrepancies with other countries including Malaysia, China and
\nthe United States.<\/p>\n
According to Yeo, Singapore includes certain breakdown of
\ntrade statistics such as data on re-exports and bunker exports
\nwhich Indonesia does not.<\/p>\n
\"Therefore, Singapore's export figures will not be equal to
\nIndonesia's import figures, and vice versa,\" he said in the
\nletter.<\/p>\n
Singapore does not publish trade data on Indonesia based on a
\nmutual agreement by leaders of the two countries in 1974 but the
\ncity-state has handed annual data to Jakarta over the past 29
\nyears, Yeo said.<\/p>\n
\"However, we have always informed Indonesia that we would have
\nno problems should Indonesia choose to publish the data,\" Yeo
\nsaid.<\/p>\n
\"Up to last year, Indonesia had chosen not to do so.\"<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/singapore-in-trade-dispute-over-indonesian-export-figures-1447899208", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }