Indonesia - Singapore Strengthens Trade Ties in Latest MoU
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9 October 2019 11:08 WIB
TEMPO.CO, Jakarta - The Indonesian and Singaporean government came to a bilateral agreement marked by the ratification of a memorandum of understanding (MoU) enabling both countries to share trade statistics under the National Single Window.
“The partnership between Indonesia and Singapore will facilitate and secure trade flows with accurate information and data,” said Finance Minister Sri Mulyani Indrawati in the ministry’s official website today.
Prior to this, the export-import statistics between the two countries often differed from one another which is prone to be infiltrated by criminal activities in the field of tax, excise, and trafficking.
This deal, said the Minister, enables a more thorough and optimum monitoring process for the trade sector.
The two countries’ partnership represented in the signing between Sri Mulyani and Singapore Deputy Prime Minister Heng Swee Keat also helps improve both governments’ risk management on possible trade crimes. This MoU is part of the Bilateral Leaders Retreat in Singapore.
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