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EU extends GSP facility for Indonesia

06-24-2011 15:08 BJT

JAKARTA, June 24 (Xinhua) -- The European Union has extended its lower tariff facility, known as generalized system of preference (GSP), for Indonesia's export products to 2013 from the deadline of Dec. 2011, giving more opportunity for the products to compete in the EU market, an official said here on Friday.

The extension was made after the EU recently evaluated the 176 countries receiving the facilities and reduced the number to 80 countries, which are still categorized as low-income countries, said Pradnyawati, director of bilateral policy of Trade Ministry told Xinhua over phone.

"We have got the extension of GSP facility by up to 2013," she said.

During the evaluation, the EU excluded the countries whose economic growths have accelerated and moved from the category of low-income countries to middle-income or high-income countries, Pradnyawati said.

For Indonesia, it has experienced acceleration on economic growth but the country's income per capita still can not be categorized as low or medium due to high population, she said.

"Although our economy has grown moderately, our income per capita is still low because our population is 240 million people," said Pradnyawati.

Under the GSP facility, the EU imposes zero tariffs on all of Indonesia's export products. But for the countries not receiving the facilities, their export products are charged by five to 10 percent import taxes, according to Pradnyawati.

Europe is Indonesia's third largest destination for Indonesia's exports, after China and Japan, according to the trade ministry.

Indonesia's exports to Europe is about 17 billion U.S. dollars out of 27 billion U.S. dollars' total trade, it said.

Indonesia still needs a massive infrastructure development and a strong improvement on governance to boost economic efficiency.

 

Editor:Zhang Dan |Source: Xinhua

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