Indonesia plans to formally announce the implementation of the ATA Carnet system at this December’s World Trade Organization Ministerial Conference in Bali. As part of a move towards closer engagement with the global economy, Indonesia aims to begin accepting ATA Carnets in early 2014.
Adding Indonesia has been a priority of the World ATA Carnet Council, which is chaired by USCIB Senior Vice President Cindy Duncan. Seventy-three countries already actively participate in this worldwide system, which facilitates temporary exports for a wide variety of goods free of duties and taxes.
U.S. trade with Indonesia will directly benefit from this implementation as U.S. businesses are currently major exporters of aircraft, rail equipment and energy-related equipment to Indonesia. Two-way trade between the United States and Indonesia has been on the upswing, reaching $26 billion in 2012 and U.S. exports to Indonesia were up an additional 8.1 percent in the same year. This positive trade growth is expected to be further spurred by Indonesia’s decision to join the ATA Carnet system.
To get the process in motion ICC’s Asia office held workshops and a series of meetings in Jakarta this past July to work on the technicalities of putting the system into place. Approximately 175,000 Carnets worth over $25 billion are issued annually. Indonesia will be a welcome addition to this growing Carnet figure and to continued international cooperation among trading partners. If you are interested in receiving updates and notifications on Indonesia’s status with the ATA Carnet System, please Click Here
The ATA Carnet system is jointly administered by the World Customs Organization and the International Chamber of Commerce’s ICC World Chambers Federation, which administers the ATA Carnet international guarantee chain. USCIB guarantees Carnets in the U.S. and issues them through a network of trusted service providers.