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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


Indonesia approves special economic zone project on Morotai Island

Thursday, July 03, 2014 > 09:23:05

(Focus Taiwan)

Indonesian President Susilo Bambang Yudhoyono approved Wednesday a proposal to set up a special economic zone in Morotai, one of Indonesia's northernmost islands and the location of a joint development project with Taiwan.

Chang Liang-jen, representative of the Taipei Economic and Trade Office in Indonesia, told CNA that the two countries will host a meeting next week to discuss details of the joint development project and select one or two sectors with high priority to begin with, likely tourism and agriculture.

After that, they will work on attracting investment from businesspeople in Taiwan and Indonesia, Chang said, adding that the Indonesian government has already split up the different tasks for planning the project, including a study on taxation incentives and the deployment of infrastructure, among its agencies.

The Indonesian government decided on Feb. 18 to establish a special economic zone in Morotai, a 2,400-square kilometer island which is located 2,600 kilometers from Taiwan and has a population of around 50,000.

Taiwan and Indonesia signed a memorandum of understanding in 2012 covering the joint development of the island, the largest of the resource-rich Maluku archipelago in eastern Indonesia.

To support tourism in Morotai, Taiwan's International Cooperation and Development Fund (TaiwanICDF) started a training course on the island earlier this year to develop local manpower for the tourism and travel industry.

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