TPT being revitalized to boost Indonesian exports

Data from the Geneva-based International Trade Centre show that the value of Indonesia’s apparel and clothing accessories exports declined by almost 4% to US$3.3 billion in 2015 from 3.42 billion in 2014, thus, the Indonesian exports may get an impetus because of the government’s policy to revitalize the TPT industry.

The Indonesian government is planning to ease import procedures to improve the competitiveness of local businesses with regional competitors like Vietnam, which has no import tariff, as opposed to Indonesia’s fees of 5%-20%.

President Joko “Jokowi” Widodo said that the import procedures must be simplified for Textile and textile product (TPT) raw materials to lift the burden off businesses. The TPT industry was in need of immediate revitalization to push further industrialization.

He added that many industrialized countries in Asia, like Japan, China and South Korea, started their industrialization efforts by developing the TPT manufacturing industry.

Efforts are thus made to streamline the process of importing raw materials for textile and textile products (TPT) in order to rejuvenate the labour-intensive industry, which has been struggling with the fierce global competition.

 

 
Copyright 2017 Ptj.com.pk   Design: PTJ Graphics