ASEAN Economic Ministers Agree Joint Investment Promotion

ASEAN Economic Ministers Agree Joint Investment Promotion ; Economic ministers Association member countries of Southeast Asian Nations (ASEAN) are meeting in Da Nang, Vietnam, on 24-27 August 2010 ASEAN agreed to facilitate investment flows better through the promotion of joint investment. A press release from the Ministry of Commerce in Jakarta, Wednesday (25 / 8), mentioning also that in the ASEAN Investment Area (AIA) to-13, ASEAN economic ministers agreed to increase cooperation implementation of good practices to promote investment in ASEAN investment.

At the meeting represented AIA in which Indonesia Trade Minister Mari Elka Pangestu and Chief of the Investment Coordinating Board (BKPM) Gita Wirjawan, ASEAN economic ministers are also trying to improve the investment climate of ASEAN by requesting input from the private sector. In addition to AIA, the economic ministers of ASEAN is also following the Council meeting of the ASEAN Free Trade Arrangement (AFTA) to-24 which discusses the development and implementation level in the field of trade in goods.

At the AFTA Council meeting Indonesia was represented by Vice Minister of Transportation Bambang Susantono, Director General of International Trade Cooperation Ministry of Commerce Gusmardi Bustami and Director of Regional Cooperation Ministry of Commerce of Faith Pambagyo.

Since the implementation of AFTA on 1 January 2010, ASEAN-6 which consists of Indonesia, Brunei, Malaysia, Philippines, Singapore and Thailand have eliminated tariffs CEPT (Common Effective Preferential Tariff) amounted to 99.65 percent while Cambodia, Laos, Myanmar and Vietnam by 1998 , 96 per cent. ASEAN member countries impose tariffs 0-5 percent. That tariff reduction is an integral part of the ASEAN Trade in Goods Agreement (ATIGA).

At the AFTA Council meeting, each member state agreed to the implementation of Entry Into Force (EIF) ATIGA with the use of transitional certificate of origin (Certificate of Origin / CO) to CO CEPT Form D Form D ATIGA for six months or 180 days after EIF ATIGA ie date of May 17, 2010. Thus, member countries can accept or CO CEPT Form D issued until November 13, 2010.

On the transition of CO CEPT Form D which has been issued are still valid for one year in accordance with the Operational Certification Procedures (OCP) ATIGA. Other ASEAN's commitment in this regard is to eliminate nontariff barriers (Non-Tariff Barriers / NTBs) with the identification of Non-Tariff Measures (NTMs) NTMs justification for the recently passed, and the Elimination NTMs that are not suitable.

ASEAN economic ministers at the meeting also endorsed a list of NTMs verify the member countries of ASEAN and the ASEAN Secretariat commissioned to upload it to the page of the ASEAN Secretariat in August 2010. Furthermore, the Minister reminded the commitment to eliminate all forms of nontariff barriers in order ATIGA