Indonesian traders to participate in barter trade
by: Antonio Colina IV, Manila Bulletin
DAVAO CITY – Traders from the Indonesia will participate in the border trade after President Rodrigo R. Duterte ordered for the revival of the ancient border trading in Mindanao.
Endah R. Yuliarti Farry, consul for Information and Socio Cultural Affairs, told reporters on Wednesday that at least four provinces – North Sulawesi, East Sulawesi, South Sulawesi, Southeast Sulawesi, and East Kalimantan — located at the borders of Indonesia can initially participate in the barter trade.
She said 11 other provinces of Indonesia may also be able to join the barter trading.
She said Indonesia’s participation is expected being a member of the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA).
President Duterte signed an executive order last October 29 reviving the ancient commercial practice of barter trading.
It indicated that the BIMP-EAGA is “linked by a long history of trade and economic relations, with barter as a major form of commercial exchange.”
The government hopes the revival of the barter trade will not only create jobs and business opportunities but also strengthen trade and commerce between and among member-states of BIMP-EAGA.
The President also established Mindanao Barter Council to supervise, coordinate, and harmonize policies, programs on barter in Southern Philippines.
The council will continue to perform its functions until the future Bangsamoro government is established.