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Ministry of Trade Discussed the Palm Oil Trade Barriers with India



Ministry of Trade Discussed the Palm Oil Trade Barriers with India

InfoSAWIT, NEW DELHI – Minister of Trade, Agus Suparmanto discussed the trade barrier about the latest import regulation for palm oil, betel nut, and jewelry products that India published. The discussion did run well in the bilateral meeting between Minister Agus and Minister of Train, Trade, and Industry India, Piyush Goyal, Thursday (20/2/2020) in New Delhi, India.

The meeting was the start of visit series of Minister Agus to India. In the opportunity, he also spoke about the interests of Indonesia about the latest policy from India about the import policy in for refined palm oil within the code, HS 151190.

The regulation obliged that the importers should have license to import before importing the refined palm oil. This is the new burden for the importer (from Indonesia) because India did not publish it days before.

General Director of International Trade Negotiation, Iman Pambagyo said that though the policy is only to refined palm oil, but as what Minister Agus told, this is the special interest of the government of Indonesia because the policy would influence the trade barriers for crude palm oil (CPO) within the code HS 151110 to India and would influence to the smallholders too. “Until now Indonesia is still the biggest supplier of CPO to India,” Iman said, as in the official statement to InfoSAWIT.

Besides, both ministers also discussed about the third Biennial Trade Ministers’ Forum (BTMF). It would be done in the end of October 2020.

“We do hope that the meeting would get the profitable agreement for both sides and increase the trade between the two countries,” Minister Piyush said.

The total trade between Indonesia-India in 2019 reached US$ 16 billion. The exports from Indonesia to India in the same period reached US$ 11,78 billion and the imports of  Indonesia from India reached US$ 4,29 billion. The surplus for Indonesia reached US$ 7,48 billion. (T2)

 


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