Jakarta (ANTARA News) - The Indonesian finance ministry in its finance ministerial regulation number 26/PMK.011/2013 has set new import duty tariff for goods from Pakistan as an implementation of the preferential trade agreement (PTI) signed last year by the two countries.

Based on the Presidential Regulation Number 98/2012, the Indonesian government has ratified the PTA with the Pakistani government, according to a copy of the ministerial regulation made available to ANTARA on Monday.

The new import duty is effective as of January 18, 2013.

In line with the PTA between Indonesia and Pakistan, the new import tax tariff is lower than the tariff applied in general, but it is applicable only for goods having IP Form signed by the Pakistani authorities.

The PTA is expected to open wider access to local goods and commodities, Indonesia was expecting to boost its exports of palm oil, coal and paper, according to Indonesian Trade Minister Gita Wirjawan recently.

Pakistan is also a hub for introducing our products into neighbouring countries, such as Afghanistan, Iran and Nepal.

Indonesia is to trim Pakistan`s import duty on 216 goods, including fresh fruit, cotton yarn, cotton fabrics, ready-to-wear garments, fans, sporting goods and leather goods.

Meanwhile, Pakistan will cut its rates on 287 Indonesian products, such as crude palm oil and its derivatives, sugar confectionery, cocoa products, consumer goods, chemicals, tableware, kitchenware, rubber products, wood products, glassware and electronics.

Editor: Priyambodo RH
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