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Indonesia - Latest News/Current Events, Economic Overview & Trade Relations

AEI | Quick Facts about Indonesia

Official Name Republic of Indonesia
Capital Jakarta
Location Southeastern Asia, archipelago between the Indian Ocean and the Pacific Ocean
Area total: 1,919,440 sq km land: 1,826,440 sq km water: 93,000 sq km
Climate tropical; hot, humid; more moderate in highlands
Terrain mostly coastal lowlands; larger islands have interior mountains
Indonesia
Indonesia

Indonesian Bonds Offers the Highest Yield

Indonesia's local-currency bonds have handed investors a 10 percent gain this year, the best performance among 10 local- currency Asian debt indexes compiled by HSBC Holdings Plc. Investors snapped up the debt as a 9 percent rally in the rupiah since…

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Indonesia

Hot Emergent Market: Indonesia

Southeast Asia's largest economy may grow 60 percent in the next five years to $800 billion due to a stable administration, lower capital costs and a government plan to spend as much as $34 billion to build roads, ports and power plants by 2017, Morgan…

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Indonesia

Rupiah and Korean Won rose this week, leading Asian currencies

The rupiah extended this quarter's gain, the best performance in Asia. The MSCI Asia Pacific Index of stocks climbed for a fourth day as Australia's economy unexpectedly expanded in the first quarter. The Philippine peso strengthened on speculation falling…

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Indonesia

Indonesia cut its interest rate

The Bank Indonesia cut its benchmark rate by 25 basis points to an all-time low of 7% in June.

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Indonesia

Indonesia Casts Doubt On ASEAN Integrated Capital Market

Indonesia expressed their doubts on the viability of an integrated capital market among ASEAN member states by 2015.

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Indonesia

Indonesia Eyes More Currency Swap Agreements

Indonesia is looking to forge more bilateral currency swap agreements with other countries to bolster confidence and ease volatility of the rupiah against the US dollar.

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Trade Agreements

ASEAN - China Free Trade Area

The ASEAN - China Free Trade Agreement will apply in an area involving 1.7 billion consumers, making it the world's largest trading area. The agreement currently establishes a zero-tariff market. The agreement now contains trade in goods, services and dispute settlement. Investment is still under negotiation.

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ASEAN - Korea Free Trade Area

Under the ASEAN- Korea Free Trade Agreement, Korean businesses will gain access to the ASEAN market, which contains nearly 500 million people. The agreement contains trade in goods and tariffs will be either eliminated or reduced on Korean products. http://www.aseansec.org/18063.htm

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ASEAN Free Trade Area

Initiated in 1992, ASEAN Free Trade Area (AFTA) main mechanism used to reduce tariffs in ASEAN. It originally contained six members (Brunei, Indonesia, Malaysia, Philippines, Singapore and Thailand) the other four members (Vietnam -1995, Laos -1997, Myanmar-1997 and Cambodia-1999) joined after the original agreement was signed. In order to join ASEAN, they had to agree to AFTA. The overall objective of AFTA is to encourage more foreign investment to ASEAN and establish ASEAN as a world competitor by eliminating both tariff and non-tariff barriers within ASEAN. Over the next 15 years, ASEAN agreed to reduce tariffs 0-5%. http://www.aseansec.org/19346.htm

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Global System of Trade Preferences among Developing Countries

AlgeriaAlgeria
ArgentinaArgentina
BeninBenin
BoliviaBolivia
BrazilBrazil
CameroonCameroon
ChileChile
ColombiaColombia
CubaCuba
EcuadorEcuador
EgyptEgypt
GhanaGhana
GuineaGuinea
GuyanaGuyana
IranIran
IraqIraq
LibyaLibya
MexicoMexico
MoroccoMorocco
MozambiqueMozambique
NicaraguaNicaragua
NigeriaNigeria
PeruPeru
SudanSudan
Tanzania, United Republic OfTanzania, United Republic Of
Trinidad And TobagoTrinidad And Tobago
TunisiaTunisia
VenezuelaVenezuela
ZimbabweZimbabwe

The Global System of Trade Preferences arose out of the United Nations Group of 77. The Group first appeared interested in 1976 to develop a global system of trade for developing countries. Over years of negotiations, the agreement was signed by the participating members of the Group of 77. The members are currently looking to expand their economic ties to other developing countries in Asia, Latin America and Africa. http://www.unctadxi.org/templates/Page____6207.aspx

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Trade and Investment Framework Arrangement between the United States of America and the Association of Southeast Asian Nations

The Enhanced partnership between ASEAN and the United States will increase cooperation and understanding in the areas of politics, economics and safety.  EAI, Enterprise ASEAN Initiative, will strengthen economic cooperation and will allow and increase of trade and investment between both parties.  Both sides have also vowed to work together on various projects in the development arena including, fighting infectious disease and disaster relief. http://www.ustr.gov/assets/Trade_Agreements/TIFA/asset_upload_file932_9760.pdf

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Trade Organizations

ASEAN Plus 3

Forum as a coordinator of cooperation between ASEAN and China, Japan and South Korea.

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Asia Cooperation Dialogue (ACD)

The Asia Cooperation Dialogue (ACD) is an International Organization to promote Asian cooperation at a continental level, helping to integrate the previously separate regional organizations of political or economical cooperation such as ASEAN, SAARC

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Asia-Pacific Economic Cooperation (APEC)

Asia-Pacific Economic Cooperation (APEC) is a forum for 21 Pacific Rim countries or regions (styled 'member economies') to discuss the regional economy, cooperation, trade and investment. The membership is claimed to account for approximately 41 percent of the world's population, approximately 56 percent of world GDP and about 49 percent of world trade. The activities, including year-round meetings of the members' ministers, are coordinated by the APEC Secretariat.

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Association of Southeast Asian Nations (ASEAN)

Association of Southeast Asian Nations, commonly referred to as ASEAN, is a geo-political and economic organization of 10 countries located in Southeast Asia, which was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Its aims include the acceleration of economic growth, social progress, cultural development among its members, and the promotion of regional peace.

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BIMP-East ASEAN Groth Area (BIMP-EAGA)

A subregional economic cooperation initiative involving 4 Southeast Asia Nations

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Centre on Intergrated Rural Development for Asia and the Pacific (CIRDAP)

The Centre for Integrated Rural Development for Asia and the Pacific (CIRDAP) is a regional intergovernmental and autonomus organization

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Council for Security Cooperation in the Asia Pacific (CSCAP)

The Council for Security Cooperation in the Asia Pacific (CSCAP) is a non-governmental (second track) process for dialogue on security issues in Asia Pacific.

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East Asia Summit (EAS)

The East Asia Summit (EAS) is a Pan-Asia forum of 16 countries in East Asia, with ASEAN in a leadership position.

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