"The meeting discussed complaints from (players of) the textile industry who had to shut down their business or conduct mass layoffs," Trade Minister Zulkifli Hasan remarked after attending the meeting on Tuesday.
Responding to this problem, Jokowi highlighted that the government is considering re-enacting the Minister of Trade Regulation Number 8 of 2024, which is an amendment to Minister of Trade Regulation 36 of 2023 concerning Import Policies and Regulations.
The re-enactment was proposed by Industry Minister Agus Gumiwang Kartasasmita, with the hopes of the regulation being able to suppress waves of layoffs experienced by the textile industry.
"We will use the regulation for TPT (textile and textile products), apparel, electronics, footwear, and ceramics," Hasan remarked.
He stated that relevant ministers would formulate further regulations regarding import policies and regulations to be implemented at the earliest.
Related news: Minister emphasizes regulation improvement to protect textile industry
Earlier, Minister Kartasasmita encouraged the implementation of international trade barriers through trade remedies, such as the implementation of Safeguard Measures Import Duties (BMTP) as well as Anti-Dumping Import Duties (BMAD), to protect the domestic textile industry.
To realize such efforts, collaboration is deemed necessary with the relevant ministries to implement trade remedies for the protection of the domestic textile industry.
Kartasasmita said his side continues to increase the absorption of TPT products in the domestic market. However, the competitiveness of this industry is disrupted by the import of similar products, especially downstream TPT products in large quantities, both legally and illegally.
"There are also products of TPT not absorbed by export destination countries that are currently implementing trade restrictions. It resulted in an oversupply and the producing countries are dumping and diverting their market to countries without domestic market protection, including Indonesia," he remarked.
Furthermore, he agreed with Finance Minister Sri Mulyani's statement regarding dumping that caused a decline in the textile industry in the country.
Hence, to this end, he pressed for consistent implementation of domestic industrial protection policies.
Related news: Predatory pricing affects Indonesia's textile industry: Minister
Translator: Yashinta Difa P, Resinta Sulistiyandari
Editor: Yuni Arisandy Sinaga
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