Cabinet Secretary Teddy Indra Wijaya said President Prabowo Subianto initiated tactical steps to maintain the domestic economy and strengthen Indonesia's position in tariff negotiations with the United States.
The idea was put forward by the President in a limited meeting with a number of ministers of the Red and White Cabinet at the Merdeka Palace, Jakarta, Friday (27/6).
The meeting was held after the Head of State received a visit from Malaysian Prime Minister Anwar Ibrahim.
Teddy explained that the main focus in the limited meeting included Indonesia's response to global economic challenges, the development of tariff negotiations with the United States, and the revitalization of cooperation in the Southeast Asia region.
"One of the efforts to respond to the dynamics of the current economic challenges is to carry out real sector deregulation through the revision of the Permendag 8 of 2024 which is simplified into sectoral arrangements so that it will become more flexible," said Seskab Teddy as quoted by ANTARA, Saturday, June 28.
The Regulation of the Minister of Trade (Permendag) Number 8 of 2024 contains the Policy and Regulation of Imports in 2024.
Teddy said President Prabowo emphasized to his staff the importance of creating a competitive business ecosystem by removing complicated licensing barriers.
"President Prabowo requested that the deregulation of the real sector be competitive by eliminating licensing bureaucracy so that it can maintain economic growth in the country," he said.
In addition, the meeting also highlighted positive developments in tariff negotiations between Indonesia and the United States. The government assesses that the two countries have a strategic interest in establishing mutually beneficial trade relations.
"The two countries agreed to prioritizewin-win solution by looking at the strategic aspects of bilateral economic relations between Indonesia and the United States. The negotiator team is currently discussing requests and offers from the two countries intensively," said Seskab Teddy.
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Teddy said the Indonesian government had received strong support from the United States economic authorities.
"The government has also received positive support and response from the US Secretary of the Treasury, Mr. Scott Bessent and the United States Trade Representative Mr. Jamieson though for Indonesia's initiative to strengthen economic cooperation with the US," he said.
Apart from Seskab Teddy, the limited meeting was also attended by Coordinating Minister for Economic Affairs Airlangga Hartarto and Minister of State Secretary Prasetyo Hadi.
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