Jakarta (ANTARA) - Indonesian Trade Minister Budi Santoso announced that the amendment process for Trade Minister Regulation (Permendag) No. 8 of 2024, which governs import policies and configurations, is expected to be completed next week.
"Hopefully, the process will conclude by next week. It's already 90 percent complete -- we just need to finalize a few administrative details," Santoso told reporters in Jakarta on Sunday.
The minister explained that the revision follows President Prabowo Subianto’s directive to implement deregulation, aiming to streamline rules and improve Indonesia's overall business climate.
Santoso emphasized that the upcoming regulatory changes will not trigger a surge of imported goods that could potentially harm domestic labor-intensive industries, key business sectors, or national efforts toward food self-sufficiency.
"There are specific considerations and criteria in determining which imported products will receive regulatory relaxation," he noted.
However, Santoso declined to disclose the exact provisions being revised, noting that the process is still underway.
“I’ll provide the details once everything is finalized. Since the work is not yet complete, there’s not much I can say for now,” he told reporters.
On May 8, Santoso stated that one of the main objectives of the deregulation is to strengthen oversight of certain commodity inflows.
He also underlined that the president’s directive extends beyond imports, aiming to enhance Indonesia’s broader trade and investment environment.
“This deregulation effort doesn’t stop at imports. It also includes export policies and domestic trade. Ultimately, we’re working to ease the way for investors and improve the ease of doing business,” Santoso explained.
On the same day, Industry Minister Agus Gumiwang Kartasasmita expressed his support for the revision of Permendag No. 8 of 2024, stressing its potential benefits for the domestic manufacturing sector.
“It’s essential that we safeguard our manufacturing industry,” he said, describing it as the backbone of Indonesia’s economy.
