Cabinet Secretary Teddy Indra Wijaya said that Indonesian President Prabowo Subianto initiated tactical steps to maintain the domestic economy and strengthen Indonesia's position in tariff negotiations with the United States.
The idea was put forward by the President in a limited meeting with a number of ministers of the Red and White Cabinet at the Merdeka Palace, Jakarta, Friday (27/6). The meeting was held after the Head of State received a visit from Malaysian Prime Minister Anwar Ibrahim.
As stated in the statement received on Saturday, Teddy explained that the main focus of the limited meeting included Indonesia's response to global economic challenges, developments in tariff negotiations with the United States, and revitalization of cooperation in the Southeast Asia region.
"One of the efforts to respond to the dynamics of current economic challenges is to deregulate the real sector through the revision of Permendag 8 of 2024 which is simplified into sectoral regulations so that it will be more flexible," said Cabinet Secretary Teddy.
The Minister of Trade Regulation (Permendag) Number 8 of 2024 contains the 2024 Import Policy and Regulation.
Teddy said that President Prabowo emphasized to his staff the importance of creating a competitive business ecosystem by eliminating complicated licensing barriers.
