RI cuts import tariffs for three ASEAN countries

RI cuts import tariffs for three ASEAN countries

The Jakarta Post, Jakarta

Indonesia has cut import tariffs on goods from Myanmar,
Vietnam and Cambodia as part of its efforts to promote economic
development in the three countries.

The policy was in compliance with the ASEAN Integration System
of Preference which is aimed at narrowing the wealth gap between
the original members and the newer members of the Association of
South East Nations, the Ministry of Finance said in a statement
on Tuesday.

ASEAN's older members are Indonesia, Singapore, Malaysia,
Thailand, the Philippines and Brunei Darussalam.

Maurin Sitorus, spokesman at the ministry, said Indonesia had
cut import tariffs on products from the three countries by a
minimum of 2.5 percent.

The tariff cuts are effective for a year from May 29.

Myanmar gets tariff cuts on 222 goods, including lobster and
oysters, which, following the tariff cuts, are now subject to a 5
percent tariff. Tin products and ginseng-based products from the
country are now subject to a 2.5 percent tariff.

Vietnam gets cuts on 50 goods, including crab and natural
honey, which are now subject to a 5 percent tariff; and a limited
selection of auto parts and onions, which are now subject to a
2.5 percent tariff.

Cambodia gets cuts on 25 goods, including notebooks and shoe
materials, which, are now subject to import duties of 2.5 and 5
percent respectively.