Search Result for : Indonesia

The Dollar Business Bureau In order to safeguard the domestic industry from cheap imports, the Government has imposed anti-dumping duty on the imports of glassware from China and Indonesia. “The Central Government, after considering the final findings of the designated authority, hereby imposes definitive anti-dumping duty on the subject goods,” the Ministry of Finance said in a notification (No.22/2018-Customs ADD) on Wednesday. “The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be paid in Indian currency,” the notification said. The Directorate General of Anti-Dumping & Allied Duties (DGAD) said in its findings that the subject goods have ...

Ahmad Shariq Khan Indonesia’s Ambassador to India Arto Suryodipuro has said that India’s maritime industry has enormous potential and the country’s ambitious port-led economic development plan is very much in line with Indonesia's efforts to improve maritime infrastructure and connectivity in the region “India’s maritime industry has enormous potential,” the Ambassador said while speaking at the 2nd edition of the Indonesia Exposé 2017 organized by the Embassy of Republic of Indonesia in New Delhi. “India has experience in connectivity packaged in the integration of industrial zones, ports and inland waterways, where almost all transportation routes - land, river and sea - are connected to each other,” he said. “India now has advanced port management, transshipment and logistics capability,” Suryodipuro said, adding that India’s ambitious ...

The Dollar Business Bureau  Russia, the world’s largest exporter of wheat, is about to expand its market for grain in the fast-growing Asian economies, which normally import their grain requirements from other parts of the world. Russia is poised to grab more share in markets of Indonesia, China and Japan as drought conditions in countries like Australia, Canada and the US are eroding the wheat production. These countries are the dominant exporters of wheat to Asian countries, accounting for around one-third of the global imports. While wheat shipments from Russia were estimated to surpass those of any other nations, very little is usually shipped to Asia, where wheat imports have nearly doubled in last 10 years as rising incomes pushed up demand for ...

The Dollar Business Bureau Indonesia and the American mining company Freeport-McMoRan Inc on Tuesday came to an agreement to allow the miner to operate its Grasberg gold and copper mine. However, the time period and divestment value of 51% in the mine are yet to be sorted out. Freeport-McMoRan Inc, the largest publicly-traded copper company in the world, can apply for an instant permit extension for 10 years for mining at the Grasberg after 2021, said Ignasius Jonan, Indonesian Minister of Energy and Mineral Resources. Grasberg is the second-largest copper mine in the world, situated in the Indonesian province of Papua. “The mandate of the president, which has been agreed to by Freeport, is that the divestment should reach 51% in total,” Jonan said while addressing a joint press ...

The Dollar Business Bureau A US-based technology group Information Technology Industry Council (ITI) has prodded the Trump government to take steps in overcoming barriers in digital trade and alleged that various countries including China and India are biased in their policies which unfairly disadvantage US companies.  In addition, the technology group named countries like Canada, Indonesia, Russia, South Korea, Mexico and Vietnam, which have followed discriminatory policies against American companies.  “Multiple foreign governments have turned to discriminatory or otherwise harmful policies that unfairly disadvantage American companies and impede the ability of technology products and services to drive growth,” ITI said in a report to the President.  The countries in which rules that treat foreign and domestic companies differently are Colombia, China, India, Indonesia, Russia, South Korea and ...

The Dollar Business Bureau Commerce Ministry said on Monday that the recent round of discussions in Hyderabad for the Regional Comprehensive Economic Partnership (RCEP) would provide a push to the negotiations. Around 700 officials representing 16 nations including Australia and China, gathered in the city during July 17-28 to negotiate the mega trade deal RCEP. It is vital that the RCEP provides a forward looking and positive alternative with regards to rising protectionism across the world, Commerce Secretary Rita Teaotia said in a statement. “India is constructively engaged in RCEP and hopes that the 19th RCEP Round in Hyderabad would find innovative ways to provide impetus to the negotiations,” Teaotia said. The Commerce Secretary further said that the real success of RCEP will be assessed ...

The Dollar Business Bureau Rising global demand for potash a widely used fertiliser, could make India sign costly import contracts in 2017 compared to that of last year. Incidentally, in April the government has decided to reduce the subsidies to the farmers thereby reducing the demand of potash in the country. India is one of the top buyers of the crop nutrient and helps set the global benchmark along with China. Its contract prices are keenly watched by other buyers like Indonesia and Malaysia. Recently two of the biggest potash producers, Potash Corp of Saskatchewan and Russia's Uralkali, have tightened the prices of potash by reducing their output. Potash Corp expects global shipments this year to increase to 3 million tonnes compared to that of ...

The Dollar Business Bureau Malaysia’s Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said that in the last decade, Malaysian firms have created a strong presence in Indonesia in major sectors such as banking, construction, plantation, energy, toll-road and telecommunications. He said while referring to a roundtable business meeting, co-chaired by himself and Eko Putro Sandjojo, a Minister in the government in charge of facilitating Malaysian investments in Indonesia, where Malaysian firms expressed their keenness to continue to play a major role in the socio-economic growth of Indonesia. The roundtable meeting was the first joint discussion between the two countries with maximum number of high-profile government and business delegates. “The huge participation from Malaysian companies at the event indicated their keen interest to keep doing ...