With a January-July 2018 exports figure of $7.74 billion, the Indonesian textile and apparel industry is hopeful of meeting an export target of $14 billion by the end of this year. The completion of the Indonesia-Australia comprehensive economic cooperation agreement (IA-CEPA) will help boost exports, according to minister of industry Airlangga Hartarto.
Interacting with representatives of 100 small and medium textile industries at Bandung in West Java recently, Hartarto said the import duty on Indonesian textile and clothing products to Australia would be abolished after a an agreement is signed later this year.
Both sides announced the substantive conclusion of negotiations on IA-CEPA on 31 August this year.
Indonesia is also trying to finalise a free trade agreement (FTA) with the European Union and the United States, Indonesian media reports quoted the minister as saying.
The export value of the country’s textile industry was $12.58 billion in 2017, up 6 per cent over the previous year.