Trade Ministry simplifies exports of palm oil and its derivatives

18 March, 2019 | Source: Antara News

The Trade Ministry simplified exports of palm oil and derivative products by revoking Trade Ministerial Regulation No. 54 of 2015 on Verification/Technical Tracking of Palm Oil, Crude Palm Oil (CPO), and Derivative Products′ Exports.

"In addition to increasing effectiveness, the revocation of Trade Ministerial Decree also aims to implement the results of a decision taken during the economic coordination meeting at the Coordinating Ministry for Economic Affairs some time ago," Director General of Foreign Trade Oke Nurwan noted in his statement in Jakarta on Monday.

This revocation of the ministerial decree is contained in the Trade Ministerial Decree Number 17 of 2019 concerning Revocation of Minister of Trade Regulation Number 54/M-Dag/Per/7/2015 concerning Verification or Technical Search of the Exports of Palm Oil, CPO, and Derivative Products.

This is as amended by Minister of Trade Regulation Number 90/M-Dag/Per/10/2015 concerning Amendments to Regulation of the Minister of Trade Number 54/M-Dag/Per/7/2015 concerning Verification or Technical Search of Palm Oil Exports, CPO, and its derivative products.

The revocation of the Trade Ministerial Decree aims to simplify the process and increase the effectiveness of the exports of commodities of palm oil products and their derivatives.

The Trade Ministerial Decree Number 17 of 2019 is valid after seven days of promulgation  on February 28, 2019.

Earlier, according to Minister of Trade Regulation Number 54 of 2015, the Trade Ministerial Decree Number 90 of 2015, every export of palm oil, CPO, and derivative products was required to be verified or technically tracked by surveyors before loading goods.

Verification by surveyors includes administrative and physical verification, determination of types and technical specifications and quality of goods through laboratory analysis.

Furthermore, the exports of these commodities will follow the provisions of Minister of Finance Regulation No. 22 of 2019 concerning the Export of Palm Oil, CPO, and its Derivative Products. This finance minister′s regulation shall take effect seven days after promulgation on March 1, 2019. 

 

The Indonesian government plans to issue savings sukuk (Islamic bonds), series ST007, to expand the base of retail investors in the domestic financial market and finance green projects in the state budget (APBN).
President Joko Widodo recently signed a regulation specifying the procurement and immunization schedule for the COVID-19 vaccine for Indonesia, which has been battling the deadly disease since March 2 this year.
President Joko Widodo on Wednesday said the coronavirus pandemic has reminded the nation and the state of the importance of science and technology.
Indonesian Foreign Affairs Minister Retno Marsudi offered her condolences and sympathies to the families of the victims of the explosion that rocked Beirut in Lebanon on Tuesday evening.
Indonesia is working with South Korea to develop a vaccine for the novel coronavirus disease, in addition to collaborating with China.
Indonesia′s economy will start to open and recover from the COVID-19 crisis in August this year, the World Bank′s Country Director for Indonesia, Satu Kahkonen, stated on Thursday.
Address: 1068 Budapest, Városligeti fasor 26. | MAP |
Phone: (+36-1) 413 3800 Fax: (+36-1) 322 8669
E-mail: embassy@indonesianembassy.hu