Jakarta: Swiss voters have backed a trade deal with Indonesia after opponents of the free trade agreement successfully called for a referendum
The referendum was held nationwide on Sunday. The trade agreement was supported by 51.6 percent of ballots.
According to reports, environmentalists criticized Switzerland’s move to reduce import duties on palm oil subject to certain requirements. Meanwhile, the Swiss government argued the deal would promote sustainable production.
"The result of today's referendum in Switzerland could positively affect trade negotiations between Indonesia and other countries," said Indonesian Ambassador to Switzerland Muliaman Hadad in a statement on Sunday.
The agreement provides that all Switzerland’s main goods can be exported duty-free to Indonesia. It places Swiss companies on a par with their foreign competitors in the growing Indonesian market.
In return, Switzerland has abolished duties on Indonesian industrial products. For agricultural products, however, the agreement only reduces duties in some cases, in order to protect the Swiss agriculture industry.
Certain reductions in customs duties will apply to a limited quantity of Indonesian palm oil imports. Anyone who wishes to import palm oil on these terms must prove that the oil has been produced in compliance with the agreed environmental and social requirements.
Cek Berita dan Artikel yang lain di Google News
FOLLOW US
Ikuti media sosial medcom.id dan dapatkan berbagai keuntungan
