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Indonesian herbicide, pesticide products to enjoy zero tariffs entering Oz market
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Trade Minister Enggartiasto Lukita (right) and Australia Minister for Trade, Tourism and Investment Steven Ciobo (middle) speak at a press conference during the latter's visit to discuss the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) in Jakarta on Sept. 20.
(JP/Stefani Ribka)
I
ndonesian producers of herbicides and pesticides will soon enjoy zero percent tariffs on exports to Australia. Within a fortnight, Australia is scheduled to issue a regulation eliminating tariffs on these products.
Trade Minister Enggartiasto Lukita said the new policy would be applied under the existing ASEAN-Australia-New Zealand (AANZFTA) free trade agreement.
"The process of translating our agreement into practice won’t take long. Just two weeks," he told a press conference during a visit from the Australian Minister for Trade, Tourism and Investment, the Hon. Steven Ciobo, to the ministry on Wednesday.
The policy is expected to jack up Indonesia’s herbicide and pesticide market share in Australia, which imports US$425 million worth of the chemicals. Some $23 million of that currently comes from Indonesia, Trade Ministry data shows.
Currently, Australia imposes a 5 percent tariff on Indonesian herbicide and pesticide products.
Meanwhile, Ciobo said the lower tariff would help Australian farmers reduce their costs. (bbn)
