The benefits of the US GSP are in danger of being lost, SLJ Global (SULI) is prepared to anticipate it
ILLUSTRATION. PT SLJ Global Tbk (SULI) has prepared a number of steps to anticipate if the benefits of the facility are lost
Reporter: Arfyana Citra Rahayu | Editor: Yoyok
KONTAN.CO.ID – JAKARTA. The timber issuer PT SLJ Global Tbk (SULI) has prepared a number of steps to anticipate if the benefits of the common preferential tariff system (Generalized System of Preference/ Gsp) will disappear.
For information, the United States (US) has officially excluded Indonesia from the list of developing or developing countries Developing and Least-Developed Countries (LGDCs) since February 10, 2020. The Indonesian Chamber of Commerce (Kadin) stated that the benefits of the US GSP for export products from Indonesia will completely disappear.
Also Read: Price Stability to Support Timber Industry Exports
Kadin stated that because based on US internal rules regarding the GSP, this facility was only given to countries which they considered developing countries.
Vice President Director of SLJ Global, David explained that before obtaining the GSP facility, SULI was subject to an 8% import duty for exports to America.
Since the GSP facility was granted for thin wood plywood products less than 66 mm (HS 44123141155) in October 2019, SULI was able to sell Plywood or plywood products to America without tariff or 0%.
“Meanwhile, there is no information (from America regarding the GSP). However, if the GSP is removed, of course the price of SULI products exported to the US will be less competitive,” he explained to Kontan.co.id, Friday (21/2).
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