Nearly 80 civil groups and 65 academics have signed a petition urging parliament to block ratification of the ‘shameful’ deal
Detractors have likened this “agreement on reciprocal trade” to a blank cheque and a surrender of Indonesia’s sovereignty. The government, for its part, calls it a win-win.
It fixed that rate at 19 per cent and secured zero-tariff access for 1,819 goods, including palm oil, coffee, cocoa, rubber and spices, that are central to the Indonesian economy.
In exchange, Jakarta agreed to extend tariff exemptions to more than 99 per cent of American goods and strip away key non-tariff barriers – among them some local content requirements and halal certification – for US companies operating in Indonesia.
Source: News - South China Morning Post
