Jakarta (Indonesia Window) – The Indonesian population is a large market for almost all daily necessities including textiles.
The textile industry and textile products in the country will increase following the signing of the protection regulation, the Government News Network (JPP) reported as quoted here on Friday.
The regulation imposes import duties on textile products from abroad to protect domestic products from imported textile products.
“The safeguard has been signed by the Minister of Trade. So, with the regulation there will be a number of components of the textile industry that will be given safeguards,” said Industry Minister Agus Gumiwang Kartasasmita in Jakarta, Thursday (Oct 31).
The minister hopes that the regulation can boost the growth of the textile and textile product industry which is one of the priority sectors in the Making Indonesia 4.0 road map.
“The regulation will be effective immediately since it was issued by the Ministry of Trade,” he said.
To ensure that the protection regulation run optimally, the Directorate General of Customs and Excise of the Ministry of Finance is responsible for overseeing the entry of imported textile goods, especially products recorded in the safeguards.
The textile industry growth in 2019 is projected to reach 20 percent.
According to Agus, the safeguard regulation is part of import substitution efforts, namely trade and economic policies that support the replacement of imported goods with domestically produced goods.
Reporting by Indonesia Window