JAKARTA (TheInsiderStories) – Good morning! Ahead of the second meeting with North Korean leader Kim Jong Un in Hanoi, Vietnam, United States (US) President Donald Trump emphasized the denuclearization potential progress. The first meeting in Singapore eight mont ago, ended without substantive agreements on the North’ nuclear disarmament.
In his twitter, Trump wrote, “Chairman Kim realizes, perhaps better than anyone else, that without nuclear weapons, his country could fast become one of the great economic powers anywhere in the world. Because of its location and people (and him), it has more potential for rapid growth than any other nation!”
US Secretary of State Mike Pompeo said talks will take time and that a third summit may be necessary.
In New Delhi, Indonesia discussed about the decreasing tariff for Refined, Bleached, and Deodorized Palm Oil (RBDPO) with India, according to official statement. Trade Minister Enggartiasto Lukita and India Trade, Industry, and Civil Aviation Suresh Prabhu held bilateral talks as a sideline meeting of In India-ASEAN Expo and Summit last week.
Recently, Indonesia’s RBDPO tariff to India is 5 percent higher than Malaysia. So, Indonesia asked the tariff to be cut through ASEAN-India Free Trade Agreement, to the same number as Malaysia at 45 percent. Indonesia also will open raw sugar market access from India.
Last week, Indonesian market wasn’t in a fine condition. Rupiah slightly declined against Dollar. Then, Jakarta Composite Index fell 0.55 percent to 6,501.37 with Rp115.01 billion foreign net sells.
This week, Indonesia will announce money circulation and inflation data. In January, Statistic Indonesia reported the country posted inflation of 0.32 percent from previous month 0.62 percent.
On the annual basis, inflation rate recorded 2.82 percent, lower than same month in 2018 at 3.25 percent. Meanwhile, in January the core component is 0.30 percent and 3.06 percent in yearly basis.
Euro zone United Kingdom will separately report their inflation rates. The Bank of England Governor and several Monetary Policy Committee members will also testify on the inflation and economic outlooks before Parliament’ Treasury Committee.
US Federal Reserves Governor Jerome Powell is scheduled to testify on the economic outlook and recent monetary policy actions. Other than that, US will release its fourth quarter Gross Domestic Product and February’s consumer confidence.
Then Hong Kong and India to announce GDP figures. Besides, South Korea to release trade data and monetary policy.
May you have a profitable week!
Written by Linda Silaen and TIS Intelligence Team, Please Read Our Insight to Get More information about Indonesia