1/9/09

Export Natural Resources Compulsory Use L / C

For countries that have not yet developed the payment system, L / C is required to guarantee security. The government set duties of letter of credit (L / C) products for the export-based natural resources that include both primary products are processed and have not been processed but not the products that have not been so. The goods are coffee, crude palm oil (CPO), cocoa, rubber products, and products tin mining. 

This part of the protection of the real sector in a Permendag No1/M-DAG/PER/1/2009 on the export of goods that must use the L / C set the date of 5 January 2009 and will be 2 months of the date of determination. Including the aim to accelerate efforts to support the foreign exchange earnings and preserve natural resources. 

In the implementation, exporters will have to include the L / C in the export of goods (Peb). Besides the payment of L / C must be distributed and received through the foreign exchange bank in the country. Basically exporter, there are some requirements that must be related, including preservation of natural resources, this part of the effort to meet the requirements for each exporter. 

Special products in the mining provisions as a whole all of the products must follow the mine this rule. Where is the value of export products boat reached U $ 13 billion per year. Mari said that with this rule will protect from the risk or perception of risk associated with Indonesia, especially in the export countries that still have not been good the payment system. 


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