The proposal was put forward during a closed-door cabinet meeting at the Merdeka Palace in Jakarta on Friday (June 27), shortly after President Prabowo hosted Malaysian Prime Minister Anwar Ibrahim.
According to an official statement released on Saturday, Wijaya said the high-level discussion focused on Indonesia’s strategic response to global economic challenges, progress in tariff negotiations with the U.S., and efforts to revitalize regional cooperation in Southeast Asia.
“One of the key measures to address current economic challenges is deregulating the real sector by revising Trade Ministerial Regulation No. 8 of 2024. The regulation will be simplified into sectoral provisions to allow greater flexibility,” Wijaya explained.
Trade Ministerial Regulation No. 8 of 2024 governs import policy and regulations for 2024.
Wijaya also noted that President Prabowo emphasized the need to establish a competitive business ecosystem by eliminating cumbersome licensing procedures.
“The president has instructed his ministers to pursue real-sector deregulation in a way that boosts competitiveness and reduces bureaucratic red tape so that domestic economic growth can be better maintained,” the cabinet secretary remarked.
The meeting also reviewed encouraging progress in tariff negotiations between Indonesia and the United States, with both parties recognizing the strategic value of fostering mutually beneficial trade relations.
“Both countries have agreed to prioritize a win-win solution, recognizing the strategic nature of Indonesia–U.S. economic ties. Negotiation teams are currently engaged in intensive discussions to reconcile requests and offers from both parties,” Wijaya noted.
He further stated that the Indonesian government has received strong backing from key U.S. economic authorities.
“The government has secured positive support from U.S. Secretary of the Treasury Mr. Scott Bessent and U.S. Trade Representative Mr. Jamieson Greer, both of whom have expressed enthusiasm for Indonesia’s initiative to deepen economic cooperation with the United States,” he stated.
The closed-door meeting was also attended by Coordinating Minister for Economic Affairs Airlangga Hartarto and Minister of State Secretary Prasetyo Hadi.
Translator: Fathur, Azis Kurmala
Editor: Aditya Eko Sigit Wicaksono
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