Indonesia Consider Renminbi In Business
Indonesia Consider Renminbi In Business
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KUALA LUMPUR - Trade Minister Thomas Lembong revealed that the IMF will announce the Chinese currency, Renminbi, as the fifth in the world currency after the US dollar, euro, poundsterling and yen.
"With the new developments that will be IMF announced on 30 November, Indonesia needs to do a study, learn, explore and animating to use the currency in business transactions," he told after attending the trial ASEAN Summit in Kuala Lumpur.
According to him, the development of this new, very terrible that must be addressed. In the trial of G-20 in Turkey some time ago, President Joko Widodo stressed the importance of shifting from the US dollar to the currency Renminbi. He explained that there are many reasons for the use of the currency in line with the reduction in the availability of US dollars.
"Right now, the dollar was back home in line with the improving US economy," the minister said.
For Indonesia, he added, meaning the transfer of dollars to Renminbi an issue phenomenal because every year the trade balance between the two countries is quite large.
Indonesia's imports from China reached 30 billion US dollars, while exports to that country only 16 billion dollars resulting in a deficit of 14 billion dollars. Therefore, there needs to be cooperation between the central banks of Indonesia and China that there liquidity Renminbi abundant so it is not hard to find those currencies in banks such as BNI, BRI, Mandiri and others.
He mentioned, Indonesia still using the US dollar in its trade with China, while the number of countries such as Malaysia had what percentage of transactions using Renminbi.
"Malaysia has been using disposable transactions Reminbi about 3-5 per cent, while in some other countries even up to 10 percent," said Thomas.
For that, it needs socialization and as the pilot was held in Jakarta in view of the country's business activities widely practiced in the country's capital.
"We can start in Jakarta, as many importers activities carried out here and then be followed by the region," he said.
"With the new developments that will be IMF announced on 30 November, Indonesia needs to do a study, learn, explore and animating to use the currency in business transactions," he told after attending the trial ASEAN Summit in Kuala Lumpur.
According to him, the development of this new, very terrible that must be addressed. In the trial of G-20 in Turkey some time ago, President Joko Widodo stressed the importance of shifting from the US dollar to the currency Renminbi. He explained that there are many reasons for the use of the currency in line with the reduction in the availability of US dollars.
"Right now, the dollar was back home in line with the improving US economy," the minister said.
For Indonesia, he added, meaning the transfer of dollars to Renminbi an issue phenomenal because every year the trade balance between the two countries is quite large.
Indonesia's imports from China reached 30 billion US dollars, while exports to that country only 16 billion dollars resulting in a deficit of 14 billion dollars. Therefore, there needs to be cooperation between the central banks of Indonesia and China that there liquidity Renminbi abundant so it is not hard to find those currencies in banks such as BNI, BRI, Mandiri and others.
He mentioned, Indonesia still using the US dollar in its trade with China, while the number of countries such as Malaysia had what percentage of transactions using Renminbi.
"Malaysia has been using disposable transactions Reminbi about 3-5 per cent, while in some other countries even up to 10 percent," said Thomas.
For that, it needs socialization and as the pilot was held in Jakarta in view of the country's business activities widely practiced in the country's capital.
"We can start in Jakarta, as many importers activities carried out here and then be followed by the region," he said.
(rnz)
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