Ministerial-level talks with India can resolve gold import issue

Manishika Miglani

Talking about the Indian government’s move to impose a countervailing duty of 12.5 per cent on gold imports from the ASEAN countries, Taufik Rigo, 1st Secretary-Economics, Embassy of the Republic of Indonesia, said that Indonesia understands the concerns of India to protect domestic production by taking this step. However, there is a need to have minister-level talks regarding the same if trade is not to be hampered on a broader level, added Rigo.

The discussion was held on the lines of “Indonesia Expose 2016: Seizing, Trade, Industry, Tourism, Investment and Services (TITIS) Opportunity from Indonesia” which took place on 7-9 October 2016 in Hotel Le Meridien, New Delhi.

The event, which was organised in cooperation with CII, FICCI, Assocham and PHDCCI, was a three day affair which was addressed by a range of speakers including HE Rizali Wilmar Indrakesuma, Ambassador of the Republic of Indonesia to India; Taufik Rigo, 1st Secretary-Economics, Embassy of the Republic of Indonesia; Anil Khaitan, Vice Preseident of PHD Chamber of Commerce and Industry; Devin Narang, Chairman, Task Force on Bio-Energy & MD, FICCI; Himawan Hariyoga, Deputy Chairman for Indonesian Investment Promotion Agency at the Investment Coordinating Board (BKPM) in the Republic of Indonesia; and Sunil Kanoria, President, ASSOCHAM.

The dignitaries shed light on the fact that Indonesia is the second the largest trading partner of India in the ASEAN region with huge palm oil export to the country as a significant component of bilateral trade between the two.

The event also highlighted the need of a direct flight between Indonesia and India considering the rising trade taking place between the two nations.

The Ambassador also pointed out the prospect of filming Indian films in the Indonesian lands to boost tourism and consolidate bilateral trade.

The event was held with a perspective to enhance strategic economic partnership and bilateral cooperation among all stakeholders by means of concerted consolidation in the respected fields. It was also an opportunity to increase joint ventures/joint in some selected areas and ventures.