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INDONESIA: Oil price hike to affect textile

According to a cabinet member an increase in the world oil price will lessen the country's competitive edge in such export goods as textiles...

INDONESIA: Oil price hike to affect textileJAKARTA: According to a cabinet member an increase in the world oil price will lessen the country's competitive edge in such export goods as textiles and textile products because oil is a raw material in their production process. "National industry products such as textiles and garments will be affected negatively if the oil price continues to increase," Industry and Trade Ministeer Rini MS Soewandi was quoted as saying. She said the...

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