ANNOUNCEMENT 26 May 2015In May 2015, the government of Indonesia announced a change in private-sector financial support.
NUMBER OF INTERVENTIONS
Press release by the Ministry of Industry (in Bahasa Indonesia):
On 26 May 2015, the Indonesian Ministry of Industry announced in a press release it would stimulate the exports of the country's textile and footwear industries. This shall be conducted in the following five steps:
The Ministry argued these measures were necessary, as Indonesia's textile and footwear industries have suffered from increasingly expensive imported raw materials due to the weak local currency, as well as from rising labour costs.
The press release did not specify when these measure were going to be implemented.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
Due to the unavailability of trade volumes in the UN COMTRADE database for 2014, the list of affected trading partners is based on data from 2013.