Govt lowers import duties

Govt lowers import duties

JAKARTA (JP): The Ministry of Finance announced on Thursday a
reduction in import tariffs of between zero and 25 percent on
over 1,000 product items.

"The lowering of the import tariffs is intended to increase
imports and to promote competitiveness with local products," the
spokesman for the ministry, Hadiyanto, said in a statement.

The import tariff reduction affects a wide range of products
including paints, varnish, cosmetics, woven cotton clothes, gold
(not coin), platinum, cooking wares, screws, gloves, bed covers,
toys, synthetic flowers, watches, electrical devices, and many
other products.

The ministry previously imposed import tariffs ranging between
five and 35 percent on the products.

At the same time, the ministry imposed new import tariffs of
between 20 percent and 25 percent on door frames made of steel
and several other steel products such as barbed wire.

The new tariffs became effective in December, last year.

In June, the government lowered import tariffs on 672 product
items. (03)