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| TITLE |
Indonesia to tighten steel import rules |
| WRITER |
administrator |
DATE |
2009-02-23 10:56:43 |
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Indonesia to tighten steel import rules
Sunday, 22 Feb 2009
Bloomberg reported that Indonesia will tighten the rules on steel shipments from overseas to clamp down on importers that do not pay taxes and help safeguard local producers.
Mr Mari Pangestu trade minister of Indonesia said that a regulation that takes effect on April 1st 2009 will require all steel importers to be licensed and have most shipments checked by state appointed surveyors. He added that checks include the verification of origin and whether taxes have been paid.
According to Mr Diah Maulida, the ministry’s director general of foreign trade, Indonesia does not produce enough steel to meet local demand, requiring shipments from overseas to fill the gap. At present, importers do not have to be licensed and some of them avoid paying import taxes. He added that "We want to create healthier trade and more conducive business climate in the domestic market."
Products that must be verified include hot and cold rolled coils and sheets, wire rods and steel pipes. Still, imports of iron and steel used by shipyards, automakers and electronic equipment makers will be exempted.
Sourced from www.bloomberg.net |
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