Palm oil in focus as Swiss vote on trade pact with Indonesia



Silke Koltrowitz | Reuters

ZURICH (Reuters) – Swiss voters will decide on a free trade agreement (FTA) with Indonesia on Sunday, with lower tariffs on palm oil imports the main issue in what the polls predict will be a tight referendum.

The Alpine country signed the pact with Indonesia in 2018 together with the other European Free Trade Association (EFTA) members Iceland, Norway and Liechtenstein.

Under the FTA, both parties will gradually reduce or abolish import duties on industrial products. For palm oil, Switzerland will reduce tariffs by about 20%-40% for up to 12,500 tonnes per year, but only if sustainability standards are met.

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