ACFTAASEAN-China Free Trade Area
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She says China could increase investments in the automotive sector to take advantage of the ACFTA and the potential within the Southeast Asian market.
The ministry said the survey involving 276 companies also found indications of dumping of 38 Chinese products imported under the ACFTA scheme.
However, ACFTA will have no effect on the market of bigger sized vehicles of light trucks (category II) as the consumers of pick-up and light truck are from different business sectors.
As products included in the High Sensitive List (HSL), the ACFTA is to be effective on motorcycles only in 2018 but as the government considers the country's motorcycle industry has been quite advanced the import duty exemption is made effective earlier in 2012.
Therefore, with the implementation of ACFTA, Chinese products are feared to finally dominate the domestic market.
Producers of fertilizers are not worried with the implementation of ACFTA especially as the industry is still subsidized by the government.
It is important that the scope and content of the ACFTA continues to grow in line with the current regional and global economic landscape and comparable to other modern free trade agreements," said Miti.
In 2009, before ACFTA was effective, trade between Indonesia and China was valued at US$ 25.
ACFTA ''has enhanced trade and investment linkages, and economic cooperation between ASEAN and China, contributing significantly to the economic development of individual countries,'' the draft says.
Whether the ACFTA will fully compromise Taiwanese makers' share in ASEAN remains to be seen, says ITIS analysts.
The ACFTA will be the biggest free trade zone in the world, forming a market with a population of 1.
In the Asia-Pacific Rim, institutional free trade agreements have been numerous: AFTA (ASEAN Free Trade Area), NAFTA (North America Free Trade Area), the projects of ACFTA (ASEAN-China Free Trade Area) and ASEAN+3 (ASEAN + Japan, China and South Korea).