[ad_1]
Jakarta, CNBC Indonesia – Indonesian Foreign Minister Retno Marsudi said that the United States (US) government has officially issued a decision to extend the provision of Generalized System of Preferences (GSP) facilities to Indonesia.
This decision was made by the United States through the United States Trade Representative (USTR) on Saturday (10/30/2020). This decision was made after the USTR conducted a review of the GSP facilities for Indonesia for approximately 2.5 years from March 2018.
The GSP is a trade mechanism in the form of exemption from tariffs on import duties that the United States Government has unilaterally granted to the developing countries of the world since 1974. Indonesia first received GSP services from the United States in 1980 .
“There are 3,572 tariff positions that have been classified by the US Customs and Border Protection (CBP) at the 8-digit Harmonized System (HS) level that obtain tariff exemptions through the GSP scheme,” Retno said in a virtual press conference on Sunday (1/11/2020).
The 3,572 tariff posts cover manufactured and semi-finished products, agriculture, fishing and also primary industries. A list of products that are subject to tariff exemptions can be seen in the Harmonized Tariff Schedule of the United States (HTS-US).
According to statistical data from the United States International Trade Commission (USITC) in 2019, Indonesian exports using the GSP reached $ 2.61 billion or the equivalent of 13.1% of Indonesia’s total exports to the US. .UU., Which amounted to $ 20.1 billion. Indonesia’s GSP exports in 2019 came from 729 goods tariff posts out of a total of 3,572 tariff posts for products that received GSP tariff preferences.
Meanwhile, from January to August 2020, amid this pandemic, the value of Indonesia’s exports using the GSP line was recorded at US $ 1.87 billion, an increase of 10.6% compared to the same period of the year. previous.
“With the expansion of the GSP facility, the value of Indonesian exports is expected to increase,” Retno said.
The top five exports of GSP products from Indonesia as of August 2020 are:
• HS 94042100: mattress, both rubber and plastic, US $ 185 million
• HS 71131929: $ 142 million gold necklace and chain
• HS 42029231: US $ 104 million sports and travel bag.
• HS 38231920 – Acidic oil from palm oil processing US $ 84 million.
• HS 40112010: radial tires for buses or trucks US $ 82 million
(Friends friends)
