Tariffs for AFTA set

JAKARTA (JP): The government has set a schedule of tariff reduction for most industrial products of up to 5 percent by 2003 for the ASEAN Free Trade Area.

Finance minister decree No. 94/KMK.01/1997, dated Feb. 28, stipulates that products produced in other ASEAN countries would benefit from the so-called Common Effective Preferential Tariffs (CEPT).

However, the exportation of CEPT products worth more than US$200 per shipment to Indonesia should be accompanied by certificate of origin to benefit from lower tariffs. (rid)