Ministry to cut automotive imports by us$700 million

Jakarta (ANTARA News) – Indonesias Industry Ministry has targeted to cut automotive imports by some US$700 million in 2018, from the average import of $3.3 billion in 2017, under the import control measures.

“We have targeted to reduce automotive imports by at least by US$700 million,” Putu Juli Ardika, the ministrys Director for Maritime, Transportation and Defense Equipment Industry, stated here on Wednesday.

Ardika remarked that the import reduction target was the result of the governments policy to temporarily halt the imports of over-3000 cc cars since the last two months, when the rupiah had begun weakening.

The decision to stop the imports of luxury cars was aimed at maintaining the countrys trade balance.

“(The decision to halt the imports of luxury cars) is targeted to maintain our trade balance. The imports of luxury cars were temporarily stopped. They are not primary goods. If you need cars, you can use domestically produced vehicles,” he explained.

The Industry Ministry will further review the import license submitted to the ministry. The imports can be continued under some considerations, including the agreement for the manufacturer to increase exports and expand its business, he elaborated.

“We will control the imports of below 3000-cc cars. We will check which cars will be included in the import control measures,” Ardika added.

Source: ANTARA News