Indonesia to increase import taxes to protect local textile industry
The Indonesian government on June 25 said that it will issue two protection policies, namely Safeguard Measures Import Duty (BMTP) and Anti-Dumping Import Duty (BMAD), for textiles and textile products as an effort to protect the local industry from surging imported textiles.
Workers produce clothes at a garment factory in Batang District, Central Java, (Photo:en.antaranews.com)
Hanoi (VNA) – The Indonesian government on June 25 said that it will issue two protection policies, namely Safeguard Measures Import Duty (BMTP) and Anti-Dumping Import Duty (BMAD), for textiles and textile products as an effort to protect the local industry from surging importeไd textiles.
The BMTP is a state levy to prevent the threat of serious losses suffered by the domestic industry as a result of a surge in the number of imported goods that directly compete with the domestic products.
Meanwhile, the BMAD will be an additional import duty.
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After a cabinet meeting at the Presidential Palace in Jakarta, the minister said that two new regulations will be issued in accordance with the Minister of Trade and the Minister of Industry.
On the same occasion, Minister of Trade Zulkifli Hasan said that President Joko Widodo had agreed to release the policies to protect local industries.
Data from the Indonesia Statistics showed that the import value of clothing and accessories had shown an increasing trend during the first quarter of this year. In January, the import value was recorded at 12.26 million USD, then it increased to 20.87 million USD the next month. The value rose again in March to 23.98 million USD./.
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