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Citigroup Inc. (NYSE: C)
April 09, 2008
Indonesia Streamlines Trade Operations through National Single Window Say Experts at Citi Indonesia Seminar
Jakarta – Industry players see the National Single Window (NSW), the government's electronic one-stop window for streamlining the country's trade flows, as a leap forward in improving business efficiency. NSW enables companies to reduce the regulatory steps a company has to go through when importing or exporting goods.
Speaking at a seminar on Trends in Cash & Trade Management to Improve Corporate Efficiency, held by Citi Indonesia today, Iyan Indrayana, System Automation and Procedure for Import & Export (OSPIE), Directorate General of Customs and Excise said this helps Indonesia compete in a globalized world.
"Globalization creates a demand where governments need to improve business environments to become more efficient," he said. "Currently, NSW is being implemented in the import-export sector to speed up document processing and soon it will also cover payment transactions," he added.
"We think the Government is taking the right direction to make business operations easier, faster and cheaper," said Dr. Ing Gunadi Sindhuwinata, Head of Association of Priority Importer Companies. "We, as importers, appreciate the hard work by the government to make business environment more efficient as demonstrated by the implementation of the NSW," he said.
The NSW is also in line with Bank Indonesia's plan to make the payment system in Indonesia paperless. "Bank Indonesia is developing a payment system that will reduce settlement risks and in accordance with international banking standards", said Aribowo, Executive Analyst, Directorate of Accounting and Payment System, Bank Indonesia. "To make that a reality, we will need a banking industry that can adapt to the development in electronic payments."
Citi Indonesia is the pioneer of electronic payment in Indonesia. It continues to provide one-stop electronic payment solutions where its corporate customers can reduce their operating costs. "CitiConnect, for example, allows companies to electronically disburse money to their employees and to collect payments from their merchants from more than 4,000 post offices throughout Indonesia," said Novianti Hardi, Indonesia Cash Management Product Head, Citi Global Transaction Services. She also adds, "Now, our corporate customers can even pay their import taxes online through our Electronic PIB (Pajak Impor Barang – Import Excise Tax) Payment Service."
During the event, Citi Indonesia also launched Citi Markets and Banking New Initiatives, where Citi signed a strategic Network Alliance with PT Pos Indonesia and with the Association of Priority Importer Companies.
A Memorandum of Understanding (MoU) between Association of Priority Importer Companies (APJP) and Citi Indonesia was also signed between Dr. Ing Gunadi Sindhuwinata to support the implementation of NSW to create a better, faster, and efficient workability in improving import and export data submission in Indonesia.
In the signings, Citi was represented by Tigor M. Siahaan, Country Business Manager, Citi Markets and Banking Indonesia and Anthony Nappi, Regional Head, Global Transaction Services, Citi Markets and Banking Asia Pacific and Anand Pande, Head of Global Transaction Services, Citi Markets & Banking Indonesia.
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