Gov’t to Issue 17th Economic Policy Package to Quicken Import and Export Processes

The government plans to issue its 17th economic policy package related to exports and imports to reduce time for visa processes, an official said on Monday (30/01).(Reuters Photo/Toru Hanai)

By : Adinda Normala | on 11:37 AM January 30, 2018
Category : Business, Trade

Jakarta. The government plans to issue its 17th economic policy package related to exports and imports to reduce time for visa processes, an official said on Monday (30/01).

Since September 2015, the government has released a series of policy reform packages that aim to improve the investment climate in the country by introducing simpler regulations, easier procedures and a series of fiscal incentives.

"[Coordinating Minister for Economics] Darmin Nasution and [President Joko 'Jokowi' Widodo] are very insistent on the export and import administration," said Edy Putra Irawady, a special staff member at the Coordinating Ministry for Economics.

One of the regulation changes in the upcoming package will be to eliminate the requirement for companies to obtain recommendation or sponsor letters from ministries to import raw materials, Edy said.

Edy said the policy package is expected to help local producers meet their raw material demands on time, without having to deal with bureaucratic red tape at the ministerial level.

"We will make it easier for industrial activities, thus the system will implement post-border supervision," Edy said.

According to the Central Statistics Agency (BPS), Indonesia’s total exports last year totaled $168.7 billion, up 16 percent from 2016, while imports also increased 16 percent to $156.9 billion.

Previously, Finance Minister Sri Mulyani Indrawati said the government would ease imports by cutting more than half the number of items currently on the prohibited or severely restricted list to accelerate handling processes at ports across the country.

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