Use Foreign Ships, RI Foreign Exchange Loss $ 5 Million

JAKARTA - Chairman of the Chamber of Commerce and Industry (Kadin) said Indonesia Susilo Bambang Sulisto foreign exchange loss of $ 5 billion per year from the coal sector. This is because employers use foreign ships for export coal.


Bambang said that, in the face of global competition intensifies, Indonesia must increase foreign exchange. One of the ways is to do with export activities by using terms of delivery cost of insurance Freight (CIF).

"Getting foreign exchange is a must.'s One attempt to change our exports to CIF," said Susilo, during a press conference at the Ministry of Trade Building, Jakarta, Wednesday (27/02/2013).

According to Susilo the use of foreign vessels for exports, Indonesia's foreign exchange enjoyed by foreign countries. Indonesia also lost the opportunity to get the cost of shipping services. In addition, within one year, the foreign exchange loss of coal commodity reached $ 5 billion.

"The production of 70 million tons per year are all exported, if I mention one company alone lost $ 1 billion. If everything up to USD5 billion," he added.

Earlier, Minister of Trade Gita Wirjawan said that until now, most Indonesian exporters still use the terms of delivery on board (FOB) for the export and use of foreign-flagged cargo ship. By using the CIF, the exporter will have an opportunity to transport cargo so that exports could increase from eight to 10 percent. Application of CIF system also stimulates the growth of transportation business, banking and insurance in Indonesia.

Sources: http://economy.okezone.com/read/2013/02/27/320/768423/