"A policy is needed to protect national trade. The government can learn from other countries that have been established such a policy," the Chairperson of the North Sumatra GINSI, Khairul Mahalli, said here Wednesday.
According to him, a stability in the exchange rates of imported commodities was important for stable export rates.
"If import rates are unstable or expensive, then export rates will automatically go up. This will be disadvantageous for consumers and will weaken the competitiveness of export commodities," Khairul noted.
He added that the strong exchange rate of the US dollar to Rupiah gave the importers a difficult time dealing with customs at seaports.
Businesspersons faced trouble selling their imported goods as the costs were getting higher and higher and the sale prices could not be raised directly due to contracts.
Khairul said the exchange rate of the US dollar to Rupiah for imports was around Rp11,000 to Rp11,500.
According to economic observer Wahyu Ario Pratomo, the high exchange rate of the US dollar to Rupiah was estimated to continue until 2015 when the central bank of the United States, the Fed, raised the interest rates and there will be fund transfers in large amounts to the US.
A poor performance of the balance of payments will also reduce the countrys foreign exchange reserves.
"The strengthening of the US dollar is expected to take time as business players want to wait and watch the political development in the country with regard to the presidential inauguration, as it will define Indonesias future conditions," Khairul said.(*)
Editor: Heru Purwanto
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