Good Opportunities for Indonesia to Ratify PTA of OIC

JAKARTA LIFE'S STYLE

Chairman of the Middle East and the Organization of the Islamic Conference (OIC) Committee of the Indonesian Chamber of Commerce and Industry Fachry Thaib said ratification of the Preferential Trade Arrangement (PTA) made by OIC member countries are very positive for Indonesia in increasing trade with the organization’s member countries.

"If its concerns are tariffs, it will have a very positive impact on Indonesia because almost all countries have lowered their import tariffs," he said in Jakarta Thursday night commenting on the government’s plan to ratify the PTA of the OIC.

However he also said that the matter also need to cover the ratification of a halal certification, and it will therefore have a negative impact on the trade of some Indonesian products because the halal (legitimacy) of all Indonesian products entering OIC member countries will have to be accepted by the the relevant authorities of the countries of destination.

Earlier, international trade cooperation director general of the ministry of trade Gusmardi Bustami said that the government was ready to ratify the PTA of OKI which could increase Indonesia’s trade relations with OKI member countries.

"I notice there is a good chance here because trade in the Islamic countries is quite good," he said, adding that the muslim countries contributed 10 percent of the total world trade with a value of more than 1.4 trillion US dollars.

He said Indonesia will also enjoy the lowering of tariffs on the entry of commodities to the OKI member countries if they joined the PTA. He said that in this case in the next five years the import duty of commodities which had been more than 25 percent will be lowered to 25 percent, while those ranging from 15 to 25 percent will be lowered to 10 percent.

"And the tariff which was 10 percent will be lowered to one percent," he said.

He said that the lowering of the tariff is actually not too big, but is a progress in trade with the Islamic countries because the tariff in many Arab countries is normally very high.

PTA of OKI is carried out to prepare the development if the preferential trading system between the OKI member countries. Gusmardi said the PTA of OKI had been ratified by nine member countries including Iran, Turkey, Nigeria, Malaysia, Brunai Darussalam, Saudi Arabia, and the United Arab Emirates.

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