Crude Oil
Jakarta: EU will grant zero tariff rate to 1 million metric tons of Indonesian crude palm oils
An Indonesian Minister said that the European Union would grant a zero-tariff rate for a 1 million metric ton export quota per year of Indonesian crude oil palm when both sides ratify an upcoming free trade agreement. Airlangga hartarto, Indonesia’s economic minister, stated that the EU and Indonesia will sign a free trade agreement in September, and the ratification should follow next year. He added that the EU would set a quota at a future date for Indonesian palm kernel oil exports, based upon Indonesia's shipments from a previous year. Susiwijono Megiarso said that the EU would impose a tariff...