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Jakarta Post

Analysis: Pros and cons of Trade Ministerial Regulation No. 40/2020

  • Haris Eko Faruddin

    Mandiri

Jakarta   /   Wed, June 3 2020   /  11:29 am

The government has issued policies related to export and import activities by sea. The policies are contained in Trade Ministerial Regulation No. 40/2020 concerning provisions for the use of national sea transportation and national insurance for the export and import of certain goods. In this regulation, it states that exporters who export coal and/or crude palm oil (CPO) and importers who import rice and/or goods for the procurement of government goods are required to use national sea transportation and national insurance.This provision is specifically for sea transportation with a carrying capacity smaller than 15,000 deadweight tonnage (DWT). As for insurance, it is compulsory to use national insurance where national insurance must be administered by the national insurance company and/or government-established export financing institutions that have received a list of certificates fro...