Import tariffs restructured
JAKARTA (JP): The government has fully adjusted the classification of import goods into the new version of the Harmonized System Convention.
The Ministry of Finance announced yesterday that the adjustment on the classification of import goods was made in line with the change in the Harmonized System, which was revised in 1992.
The adjustment, contained in Ministry of Finance Decree No. 81/KMK/05/1994, dated March 16, became effective on April 1.
The ministry also said that existing import duties and surcharge tariffs will be valid until June 30 despite the change in their classification. (hen)
Sabah firm in N. Sumatra
JAKARTA (JP): Kretam Holdings Berhad of Sabah, East Malaysia, and two Indonesian companies, PT Ira Widya Utama and PT Camerindo Sakti International, will jointly develop a palm oil plantation in Tapanuli Selatan, North Sumatra.
The three companies agreed to establish a joint venture to operate the planned plantation under an agreement signed in Medan yesterday.
Yopie S. Batubara, the president of Ira Widya Utama, said the joint venture firm would invest around Rp 200 billion (US$95.2 million) for the plantation project and its processing plant.
North Sumatra is part of a economic triangle being developed jointly by Indonesia, Malaysia and Thailand. The economic cooperation also covers the western part of Malaysia and the southern part of Thailand. (hen)
RI to join PATA meeting
JAKARTA (JP): Indonesia will attend the 43rd conference of the Pacific Asia Travel Association (PATA) to be held in Seoul on April 17-21.
Minister of Tourism, Post and Telecommunications said at a briefing for the 50-member Indonesian delegation yesterday that South Korean President Kim Young-San is scheduled to officially open the conference.
Joop said the conference, which is focusing on investment and finance, will feature a former president of the United States, George Bush, as the key note speaker.
Joop, who is currently chairman-elect of PATA for the 1994- 1995 period, said that Indonesia will use the event to market domestic tourism, including Indonesia's first tourist mart to be held in September.
An executive of PATA's Indonesia chapter, Meity Robot, said the Indonesian delegation includes government officials, executives of the chapter and reporters.(icn)
Water exported to HK
JAKARTA (JP): PT Pancasan Tirta and its subsidiary PT Air Balige Alami have won a contract to export mineral water to Hong Kong.
The two companies will export 20 containers of mineral water worth US$81,000 monthly beginning next month under the contract agreement signed here yesterday with its buyer Chi Wang Co Ltd.
Pancasan Tirta, based in Banyumas, Central Java, produces around 16 million liters of mineral water a year, while Air Balige, which is located in Tapanuli, North Sumatra, has an estimated annual production of 27 million tons. (hen)
Sorini forms joint venture
JAKARTA (JP): Sorini Corporation, a public company listed on the Jakarta and Surabaya stock exchanges, will form a joint venture with Towa Chemical Industry Co. Ltd and Mitsubishi Corporation Ltd, both of Japan, to produce liquid and powdered sorbitol.
The cooperation plan was approved by shareholders at a special meeting held yesterday at the company's headquarters in Pandaan, East Java.
The joint venture, to be named PT Sorini Towa Berlian Corporation, will produce 37,000 tons of liquid sorbitol and 7,000 tons of powdered sorbitol per annum.
Sorini will have a stake of 50.1 percent, Towa 30 percent and Mitsubishi 19.9 percent in the new firm, which will invest around US$25 million for the sorbitol production.
Sorini produces a number of chemical products made from tapioca flour, such as powdered sorbitol, dextrine and dextrose monohydrate. (hen)
Minister visits Myanmar
JAKARTA (JP): Minister of Forestry Djamaloedin Soeryohadikoesoemo leaves for Myanmar today for a four-day visit, where he will meet with his counterpart, Lt. Gen. Chit Swe, to discuss bilateral cooperation and to sign a forestry agreement.
Myanmar's embassy here said yesterday that Djamaloedin will be accompanied by Secretary General of the Ministry of Forestry Sugeng Notosaputro and other high ranking officials.
During their stay, the delegation will pay courtesy calls on government leaders. They will also visit reforestation sites in Myanmar's dry zone project and teak plantations.(10)
Paris wants quota retained
PARIS (Reuter): France tried to reassure anxious developing countries that Paris and Washington were not trying to use labor issues to drive a wedge between rich and poor nations at a meeting of GATT trading nations next week.
But in a potentially explosive step, Paris announced on Tuesday it was asking the European Union to maintain quotas on valuable textile imports from Indonesia, India and Pakistan because they had failed to open their textile markets under a new GATT treaty.
France and the United States have largely patched up bitter differences that divided them during the seven-year Uruguay Round of GATT trade negotiations which ended last December.
Together Paris and Washington are pushing for new global rules banning abusive labor practices they claim enable many developing countries to produce traded goods at cut-rate prices.
On textiles, Longuet said Indonesia, India and Pakistan had not made significant market-opening pledges, and Paris was asking that longstanding EU quotas limiting textiles imports from those three countries not be dismantled.
Rubber prices decline
SINGAPORE (AFP): Singapore rubber futures prices retreated further yesterday on arbitrage selling as Japanese traders took advantage of low prices in Japan and high prices here, dealers said.
"In the morning Japanese traders sold off into the RSS 3 market which affected the RSS market but TSR 20 was not affected," a dealer said, adding the afternoon session was quiet with RSS 1 and 3 staying at low levels.
TSR 20 prices held as a result of a buyer trying to cover the nearby contracts, the dealer said.
At around 0930 GMT, RSS 1 was quoted at 149.50 Singapore cents, RSS 3 at 91.75 US cents and TSR 20 at 159.00 Singapore cents.