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US Revokes Import Duty for Indonesian Fishery Products
The government of United States (US) reduces and revokes import duty for Indonesian fishery products. The amount of import duty tariff drop ranges from 0.5 to 15 percent.
34 fish product groups obtain import duty reduction which takes effect from July 29th to December 31st 2015 and can be extended.
The generalized system of preferences (GSP) facility is good news for Indonesia amid the weakening economy. Import duty tariff drop ranges from 0.5 to 1.5 percent.
Some Indonesian fishery products with 0-percent import duty include frozen crab, sardine, frog meat, canned fish, processed lobster, and water crab. Meanwhile, processed tuna, canned tuna, as well as processed crab and water crab does not get import duty cut.
“Import duty reduction or revoke scheme for some Indonesian fishery products in US is a good opportunity for Indonesian fishery exporter to enhance their exports,” Saut said.
Several things US considers when providing the special scheme are Indonesian government’s commitments for sustainable fishery, illegal fishing eradication, and good bilateral communication with US. On the other hand, the other competitor countries in fishery product sector such as Vietnam and China do not obtain the GS facility.
In 2011-2013, Indonesia used to obtain GSP special treatment scheme for its fishery products but it is halted in 2013-2015. GSP is a special scheme from developed countries offering non-reciprocal special treatment such as low or zero tariffs for importing the products from developing countries. Besides Indonesia, several ASEAN countries obtaining similar facilities are Thailand, Malaysia, and Philippines.
US is the main market target for Indonesian fishery product export. Export value for Indonesian fishery products to US keeps increasing from 2011-2014 namely USD 1.07 billion in 2011, USD 1.15 billion in 2012, USD 1.33 billion in 2013, and USD 1.84 billion in 2014.
The average fishery product export growth since 2011 is 21.14 percent. With GSP facility, the government targets USD 2 billion Indonesian fishery export value to US in 2015.
US Revokes Import Duty for Indonesian Fishery Products Nusantara Maritime News
The government of United States (US) reduces and revokes import duty for Indonesian fishery products. The amount of import duty tariff drop ranges from 0.5 to 15 percent.
34 fish product groups obtain import duty reduction which takes effect from July 29th to December 31st 2015 and can be extended.
The generalized system of preferences (GSP) facility is good news for Indonesia amid the weakening economy. Import duty tariff drop ranges from 0.5 to 1.5 percent.
Some Indonesian fishery products with 0-percent import duty include frozen crab, sardine, frog meat, canned fish, processed lobster, and water crab. Meanwhile, processed tuna, canned tuna, as well as processed crab and water crab does not get import duty cut.
“Import duty reduction or revoke scheme for some Indonesian fishery products in US is a good opportunity for Indonesian fishery exporter to enhance their exports,” Saut said.
Several things US considers when providing the special scheme are Indonesian government’s commitments for sustainable fishery, illegal fishing eradication, and good bilateral communication with US. On the other hand, the other competitor countries in fishery product sector such as Vietnam and China do not obtain the GS facility.
In 2011-2013, Indonesia used to obtain GSP special treatment scheme for its fishery products but it is halted in 2013-2015. GSP is a special scheme from developed countries offering non-reciprocal special treatment such as low or zero tariffs for importing the products from developing countries. Besides Indonesia, several ASEAN countries obtaining similar facilities are Thailand, Malaysia, and Philippines.
US is the main market target for Indonesian fishery product export. Export value for Indonesian fishery products to US keeps increasing from 2011-2014 namely USD 1.07 billion in 2011, USD 1.15 billion in 2012, USD 1.33 billion in 2013, and USD 1.84 billion in 2014.
The average fishery product export growth since 2011 is 21.14 percent. With GSP facility, the government targets USD 2 billion Indonesian fishery export value to US in 2015.
US Revokes Import Duty for Indonesian Fishery Products Nusantara Maritime News