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Jakarta Post

RI to fully implement free trade deal with OZ, NZ

  • Linda Yulisman

    The Jakarta Post

Jakarta   /   Tue, January 10 2012   /  09:00 am

Under the framework of the Association of Southeast Asian Nations (ASEAN), Indonesia is set on Tuesday to fully implement a free trade agreement (FTA) with neighboring Australia and New Zealand.

The Trade Ministry’s director general for international trade cooperation Gusmardi Bustami said on Monday that local producers would gain many benefits from lower tariffs on various products covered by the FTA.

“Around 90 percent of tariffs in Australia and New Zealand will be eliminated following our implementation of the agreement,” he said.

Indonesia is the last ASEAN member-state to join the ASEAN-Australia-New Zealand FTA after calls from several business groups to delay ratifying the deal over concerns of huge losses to local businesses.

The negotiations on the establishment of a free trade area with ASEAN’s 10 members began in 2005. The deal was seale...