Historia Bisnis: The Footwear Dumping Probe That Nearly Costed IDR 1.58 Trillion

Indonesia’s footwear exports in 1994 amounted to $2.4 billion, and 30% or $720 million of which was generated from exports to the EU.

Bisnis.com, JAKARTA — In 1995, Indonesia faced a dumping allegation launched by the European Commission, which—had it been proven—would have costed the country IDR 1.58 trillion in foreign exchange.

An article titled “Indonesian Footwear Industry at Risk of IDR 1.58 Trillion Loss in Foreign Exchange”, published in Bisnis Indonesia on March 8, 1995, stated that the allegations involve not only tariffs on products but also on overall footwear exports.

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