Import tariffs restructured

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.