The China- ASEAN Free Trade Agreement (FTA) will not lead to job losses and lower profits in Indonesia’s five major industries ― electronics, furniture, metal, mechanicals and textiles, Jiang Jiqing, Director of the Department of International Trade and Economic Affairs of the Ministry of Commerce (MOFCOM) said. “The FTA has created more benefits than problems, and also, the benefits will be lasting,” she added, refuting criticism of the FTA in an Indonesian newspaper. She said the lack of competitiveness of some Indonesian companies has nothing to do with the FTA. Indonesia’s exports to China increased to USD20.75 billion in 2010 from USD9.61 billion in 2006, with an annual growth rate of 21%, 6 percentage points higher than the growth of the ASEAN nations’ exports to China during the same period. Indonesia has rich natural resources including coke, cocoa powder and palm oil, whose export to China reached USD14.1 billion in 2010. Chinese investment in Indonesia has also been on the rise. By the end of 2010, more than 1,000 Chinese companies had cumulatively invested USD6 billion, creating 30,000 jobs, in the country. The investments were mainly in the infrastructure and energy sectors. China ranked 13th in terms of foreign direct investment (FDI) in Indonesia, the China Daily reports.