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Home arrow Latest News arrow Textile Industry Gets Profits from the US-China Trade War


				
			
			
Textile Industry Gets Profits from the US-China Trade War PDF Print E-mail
Written by Maizer   
Wednesday, 19 June 2019

Chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Rosan Roeslani said that the escalation of the US-China trade war did not only have a negative impact. There are positive impacts that occur, such as the increase of Indonesian textile exports to the US.

 

"Not all of that is always negative, I spoke to friends of textile association. They stated to me that exports rose by 25-30 percent, because the goods became more attractive and competitive because the ones there were subject to tariffs, tire companies also exported to the US also going up, "he said.

 

In addition, the escalation of trade wars also encouraged factory relocation. Indonesia, said Rosan, needs to benefit from this to increase investment from abroad.

 

"We should be competing to attract investment into Indonesia from relocation. Because if I see that most of the investments that relocate go to Vietnam, Malaysia, Bangladesh enter a lot, and to Thailand, we are still somewhat lacking," Rosan explained.

 

He also acknowledged that trade wars must have an impact on Indonesia, although not too large. "The trade war, the impact on Indonesia should not be too big. Because of what? Because Indonesia is very small as part of global value chains like Vietnam, Malaysia and Thailand."

 

"But is there an impact? Definitely yes. Why? First, our trade exports to China are the biggest compared to other countries, around 15-20 percent, so the impact will be there," he continued.

 

Therefore, government efforts to find new export markets need to be done. This is to strengthen the efforts that have been carried out so far.

 

"Actually, the government has tried to open a new market, which is non-traditional, to the middle east, to the African country, and the variations in the goods are also increased," he said.

 

"Well, but it definitely takes time, but we always try to open new markets, and also in my opinion for FTA and CEPA trade, it must also be settled in a country where our exports are big, we just finished from Australia, we are talking to Europe, and hopefully we can finish it, maybe next year, so priority must be given to talking about CEPA and FTA, "he said.

 

 

 
		
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