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Indonesia’s export value to Switzerland in 2015 reaches $1 bln

importexports

JAKARTA: Indonesia`s export value to Switzerland in 2015 reached US$1 billion. This is an increase by almost 000 percent compared to 2014’s US$133 million. Nus Nuzulia Ishak the Trade Ministry’s director general of national export development, said that the biggest export contributor was jewelry goods. The export of jewelries, including gold and silver, amounted to US$765 million dollar, accounting for ... Read More »

Indonesia`s exports to Switzerland surge to US$1 billion

italianwineexports

DAVOS: Indonesias exports to Switzerland shot up to US$1 billion in 2015 from only US$133 million in 2014, an official said. Director General of National Export Expansion Nus Nuzulia Ishak said gold and silver ornaments contributed the largest or US$765 million to the total export value in 2015. “Demand for Indonesian ornaments in Switzerland grew,” Nus, who is attending a ... Read More »

Indonesia’s Bulog to import 100,000 tons of corn

bulog to import

JAKARTA: Indonesia’s Bulog will import 100,000 tonnes of corn this month, a director at the state food procurement agency said on Tuesday, in its first shipment of the maize in a decade. Southeast Asia’s largest economy, which imports corn mainly from Argentina and Brazil, temporarily stopped issuing corn import permits to feedmills last year, with the government making a broad ... Read More »

Indonesia plastic exports decline 18.5% in 2015

Plastic-exports

JAKARTA: Indonesia’s exports of plastics and plastic products fell 18.5 percent year-on-year (y/y) in 2015 to USD $2.25 billion from USD $2.76 billion in the preceding year. This decline was caused by weak global demand for plastic, falling selling prices and the low competitiveness of Indonesia’s plastics and plastic products. Also in terms of volume Indonesia’s plastic exports declined. Based ... Read More »

Govt to boost exports through trade deals

bilateral trade

JAKARTA: The government aims to increase non-oil and gas exports in the coming years through trade deals and deregulation policies in an effort to reverse the recent export decline. Trade Minister Thomas Lembong said on Monday that his ministry targeted to boost the non-oil and gas export value by 9 percent this year and to accelerate export growth to an ... Read More »

Indonesia to export lesser palm oil in 2016

India palm oil

KUALA LUMPUR: Indonesia will export lesser palm oil this year as it uses more of the commodity at home to blend into biodiesel, an industry group said, putting the country on track for its first drop in overseas sales of the tropical oil in five years. The world’s top producer and exporter of palm oil is seen shipping out 23-24 ... Read More »

Indonesia exports first ever warship

ship

JAKARTA: State-owned shipbuilder PT PAL Indonesia launched two warships on Monday, one of which will be the first naval vessel exported by the domestic ship-building industry. The two ships launched in Tanjung Perak Port in Surabaya, East Java, were Missile Destroyer (PKR)-1 and Strategic Sealift Vessel (SSV)-1. PT PAL president director M. Firmansyah said the PKR-1 was ordered by Indonesia’s ... Read More »

BJB eyes more infrastructure loans

loans

JAKARTA: Publicly listed Bank Jabar Banten (BJB) plans to increase lending for infrastructure projects this year to support the government’s program and boost economic growth. The bank booked Rp 6.8 trillion (US$486.2 million) in its loan portfolio for infrastructure development last year and aims to increase that amount to at least Rp 8 trillion this year, said BJB president director ... Read More »

Govt sets conservative export target for 2016

EXPORT

JAKARTA: The government is setting a conservative target for the growth of exports for 2016 and the next three years, while stressing non-oil and gas products: 9 percent per annum. A more optimistic double-digit target, 11.5 percent per year, is estimated for 2020, Trade Minister Thomas Trikasih Lembong said. “We are more optimistic for 2016, but still on a limited ... Read More »

Indonesian tax on feeder cattle hits live export game

tax

JAKARTA: News that Australian feeder cattle exports headed for Indonesia are to immediately incur an additional ten per cent tax has industry leaders frantically navigating foreign ministries today. At a time of record prices, the removal by the Indonesian Government of the Value Added Tax exemption that has traditionally applied to feeder cattle, both imported and domestic, has come ‘out ... Read More »

Indonesia trade hit by plunge in imports

trade

JAKARTA: Indonesia’s trade balance moved back into surplus last year, after three years of deficits, but the turnaround mostly showed how sluggish the economy has been. South-east Asia’s largest economy posted a US$7.51 billion (S$10.8 billion) surplus last year, chiefly because of a nearly 20 per cent plunge in imports, underlining weak domestic consumption and investment. Every month had a ... Read More »

Indonesia’s trade balance moves back into surplus

surplus

JAKARTA: Indonesia’s trade balance moved back into surplus last year, after three years of deficits, but the turnaround mostly showed how sluggish the economy has been. South-east Asia’s largest economy posted a US$7.51 billion (S$10.8 billion) surplus last year, chiefly because of a nearly 20 per cent plunge in imports, underlining weak domestic consumption and investment. Every month had a ... Read More »

Indonesia to allow 100% foreigners ownership in e-commerce business

e commerce

JAKARTA: Indonesia will allow foreigners to own 100 percent stakes in local e-commerce business and pay a higher income tax rate, Information Minister Rudiantara said late on Thursday. The moves comes among a slew of government revisions to its negative investment list in a bid to attract more investment into the country. The booming e-commerce sector was previously closed to ... Read More »

Japan’s JFE steel starts production in Indonesia

jfe

TOKYO: JFE Steel Galvanizing Indonesia, the wholly-owned local unit of Japanese JFE Steel Corporation, has started production at its steel plant in Bekasi, West Java, two months ahead of schedule, the company said in a statement on Friday. The plant, with a capacity of 400,000 galvanized steel sheets a year, is JFE’s third plant in Asia outside of Japan, after ... Read More »

Customs seizes 3kg of marijuana at Bali airport

marijuana-dbc04668ba596d1d11bbfdcab899d5bdcf6b293a-s6-c30-e1403744009968

Kuta: A British citizen Stephen Russel Hakes (58) was caught red-handed carrying three grams of marijuana by the Customs and Excise Office at Ngurah Rai, Denpasar, Bali. “The marijuana was hidden in his rectum,” Head of Supervision and Service of the Customs and Excise Office at Ngurah Rai, Bali, Budi Harjanto stated here on Wednesday. The British national, born in ... Read More »

Indonesia Customs nabs British with marijuana

arrest

JAKARTA: A British man was reportedly arrested on January 9 for carrying three grams of marijuana in his buttocks. Identified in an Antara Bali report as 58-year-old Stephen Russell Hakes, the man was arrested shortly after he landed in Bali from an AirAsia flight out of Bangkok, said Ngurah Rai Airport’s Head of Customs and Excise Budi Harjanto. According to ... Read More »

Indonesia issues permits to import cattle from Australia

Indonesia cattle from Australia

JAKARTA: The government has issued permits for the import of 198,000 live cattle from Australia for the first quarter of this year, below the import quota of 200,000. The Trade Ministry’s acting director general for foreign trade, Karyanto Suprih, confirmed the ministry had issued the import permits for the first three months of this year. “The import permits for the ... Read More »

Indonesia, Singapore to boost agricultural trade

Indonesia, Singapore

JAKARTA: Indonesian Foreign Minister Retno Marsudi and Singaporean Foreign Minister Vivian Balakrishnan held a bilateral meeting to discuss efforts to boost agricultural trade. Moreover, Indonesia has also encouraged increasing cooperation to provide jobs to Indonesian skilled migrant workers who could be employed as caregivers and therapists in Singapore. The Singaporean foreign minister lauded the improvement in economic cooperation between the ... Read More »

Indonesian Trade Ministry, BNP2TKI partner to expand job opportunities

Indonesian Trade Ministry

JAKARTA: The Indonesian Trade Ministry and the Agency for the Placement and Protection of Indonesian Migrant Workers, known as BNP2TKI, signed a memorandum of understanding to improve the standards of the country’s human capital and expand job opportunities. The agreement will allow the government to promote the potential of Indonesian migrant workers in order to secure more job opportunities. It ... Read More »

Telkom to raise loans of up to Rp 10 trillion

loan

JAKARTA: State-run telecommunication provider PT Telekomunikasi Indonesia (Telkom) seeks to secure loans of up to Rp 10 trillion for working capital this year. The publicly-listed firm’s finance director, Heri Sunaryadi, said the company would also need between Rp 5 trillion and Rp 10 trillion in total to finance operational activities this year, such as for network maintenance and purchasing new ... Read More »