Riffrag Business & Finance Report

The implementation of the ASEAN-China Free Trade Agreement (ACFTA) had been used by several industries in Indonesia to get into China duty to zero percent.

As Trade Minister Marie Elka Pangestu, including the glass industry in the early influx of Customs FTA is still 25 percent who then fell to only 5 per cent and is expected to be able effectively to zero percent.

“There’s glass producers start FTA time, entrance fees 25 percent, last year was 5 percent. If it’s on schedule this year should be zero percent,” said Minister in the office of the Department of Commerce, Jalan Ridwan Rais, Jakarta, Friday (8 / 1).

Besides the use of import duties, enforcement of this FTA also been exploited for many industries to issue Certificate of origin (SKA) for imported products. However, he was not sure how SKA is already published.

Industries that have been published including CPO SKA, Cocoa, there are some manufactured products, and garments. “Later we’ll make a proper explanation of the numbers right, hopefully there are some exporters who export to China will share her story. I try to plan next week,” he concluded.

The implementation of the ASEAN-China Free Trade Agreement (ACFTA) had been used by several industries in Indonesia to get into China duty to zero percent.

As Trade Minister Marie Elka Pangestu, including the glass industry in the early influx of Customs FTA is still 25 percent who then fell to only 5 per cent and is expected to be able effectively to zero percent.

“There’s glass producers start FTA time, entrance fees 25 percent, last year was 5 percent. If it’s on schedule this year should be zero percent,” said Minister in the office of the Department of Commerce, Jalan Ridwan Rais, Jakarta, Friday (8 / 1).

Besides the use of import duties, enforcement of this FTA also been exploited for many industries to issue Certificate of origin (SKA) for imported products. However, he was not sure how SKA is already published.

Industries that have been published including CPO SKA, Cocoa, there are some manufactured products, and garments. “Later we’ll make a proper explanation of the numbers right, hopefully there are some exporters who export to China will share her story. I try to plan next week,” he concluded.

In the last three years beef offal imports has decreased from the original on the 58.25% in 2006 now live 14.2% of the portion of the national beef imports in 2009.

Director of Veterinary Public Health Directorate General of Livestock Ministry of Agriculture, Turni Rusli Syamsudin, in Jakarta, Saturday (9 / 1), said the decrease was caused since 2007 the government banned the import of some types of offal such as the intestines, tripe and lungs. “Since 2007 the eight types of offal imports initially allowed to stay only two that still allowed the heart and liver,” he said.

Banning the import of these types of offal, he said, was a protest from a number of countries that become exporters of meat into Indonesia namely Australia, New Zealand, Canada and the United States.

In those countries, he said, offal is not consumed and only used as animal feed or as a product of “junk” that sold cheap. “Therefore, through Permentan (Regulation of the Minister of Agriculture) No. 64 Year 2006 and updated with Permentan No. 20 of 2009 we finally allow only imports of two types of offal,” said Turni.

He revealed in 2004 of total imports of beef products as much as 48.3 thousand tons of 36.5 thousand tons or 75.3% of beef offal which is purely only 11.8 thousand tons.

Meanwhile, the share of imports in 2006, although the amount of offal was 36.5 thousand tons, but the percentage decrease of only 58.5% of total imports of meat as much as 62.4 thousand tons, the remainder of 25.9 thousand tons of pure meat. Whereas in 2007 the import of offal only 13.8 thousand tons or 21.6% of the total imports of meat as much as 64.0 thousand tons while 50.2 thousand tons of meat.

In 2009 the portion of imports of meat has increased to reach 64.1 thousand tons of a total of 74.7 thousand tons of imported contrary to the innards stay decreased 14.2% or 10.6 thousand tons.

Meanwhile, imports of meat during the offensive in 2009, Turni said, an increase compared to 2008 which is 74.7 thousand tons from the previous 70.1 thousand tons. As for 2010, the government is targeting meat imports will decrease at least 15% compared to last year.

French estimates could reap 360 million euros (approximately USD522 million) of tax bonus perbankan.Menteri French Finance Christine Lagarde said the tax was imposed on about 2,500 brokers and financial industry workers.

Lagarde said it believed the move would not cause an exodus of workers from the French finance. Realization of the tax bonus will even be pressure for the United States (U.S.) to implement similar measures. “I’m not sure will happen exodus of brokers.

They want to go? London? “He said to the daily Le Figaro. As we all know, English is also implementing a similar tax on industrial workers keuangan.Pajak 50% of the bonus received by the bankers and brokers were applied if they receive a bonus of more than 27,500 euros.

Lagarde added, the tax revenue of 360 million euros it, worth 270 million euros will be set aside to support the guarantee fund for deposits, which will increase security for banking customers. French President Nicolas Sarkozy and British Prime Minister Gordon Brown agreed to implement the tax bonus in the banking meeting in Brussels, in December last year.

The goal, so that the managers of banks and other financial institutions more accountable. Previously top French banks, BNP Paribas, caused public outrage when in August last year announced plans to provide billions of euros worth of bonuses for its staff.

BNP Paribas is still reasonable steps in the corridor of rules agreed in the G-20 and needs to be done to prevent hijacking of its best employees if the bonuses are not worth being poured. While in the U.S. is not supported similar measures the government. However, Lagarde said, in fact the U.S. public opinion against the government attitude.

Therefore, he advised President Barack Obama began studying a similar policy after completing regulatory reform in the field of health insurance. “I can not imagine the U.S. will allow people to do their banking so wasteful. Politically, it was impossible in a country where unemployment rates reached 10%, “he said.

In the U.S. big banks allegedly preparing to announce the annual bonuses for its executives. It was estimated would cause a political storm in the U.S. given bonuses and compensation precisely what has been described as one of the triggers the global financial crisis. “Granting this bonus would have offended the American people.

It touches me personally, “said a member of Economic Advisory Council President Christina Romer. While White House spokesman Robert Gibbs in a press conference to say, many banking executives who did not want to understand about the mind of the community.

Douglas Elliott, a former U.S. banker, assessing the public would be very angry if these bankers receive huge bonuses. “In short, people will ask that these bankers were hanged or shot,” he said.

As many as 11% power plant in China is threatened closing of coal stocks because of depletion of bamboo curtain country. A total of 803 power plant in China only has coal stock of less than 10 days.

It is quoted by Xinhua News Agency, Tuesday (12/01). Xinhua reported that China is currently being hit by winter’s heavy enough. It encourages the use of coal for power plant larger and larger, so the impact on the coal stocks are shrinking fast.

Concentration of coal stock shrinkage occurred in 5 provinces and several municipalities, including major coal mining area in Shanxi province of China. The situation reportedly got worse. 598 coal stocks at power plant in China is only sufficient for 9 days. Then as many as 205 other power plant has a stock of coal just not up to 7 days.

Last week, the region Shanxi, Shandong, Henan, Hubei and Chongqing, there is a shortage of electricity due to lack of available electrical power. At the same time, the temperature in the Xinjiang Uygur autonomous region and Inner Mongolia, and North and South China declined to be 6-8 degrees Celsius.