Latest news with #importrestrictions
CNA
3 days ago
- Business
- CNA
Indonesia to ease import restrictions ahead of US tariff deadline
JAKARTA: Indonesia will ease import restrictions and rules on many goods and raw materials in a bid to make it easier to do business in the country, officials said on Monday (Jun 30), ahead of the Jul 9 deadline for tariff negotiations set by the United States. While Indonesia is Southeast Asia's largest economy, traders have historically complained about excessive red tape. The matter was also highlighted in a recent report by the US Trade Representative on foreign trade barriers. The easing includes the removal of import licensing requirements for certain goods and the exclusion of some industrial raw materials - including plastic and chemical products - from the imports restriction list, a presentation by Indonesian officials at a press conference showed. Coordinating Minister for Economic Affairs Airlangga Hartarto, speaking at the event, said the policy actions would affect 10 groups of commodities and would come into effect in two months. Officials did not specifically say the action was linked to tariff negotiations with Washington. "President (Prabowo Subianto) instructed all ministerial bodies to ensure the process of business licensing is not hindered by a long bureaucratic process," said Satya Bhakti Parikesit, an official at Indonesia's state secretariat ministry. Trade Minister Budi Santoso said restrictions would be eased on products including those in the categories of fertilisers, forestry and plastics. He said the new policy would create more certainty for businesses by eliminating overlapping rules. The easing of import requirements and restrictions will also help industry players asking for an easier way to import raw materials, Deputy Industry Minister Faisol Reza said. The US goods trade deficit with Indonesia was US$17.9 billion in 2024, according to the US Trade Representative. Speaking separately to reporters, Airlangga said Indonesia has offered the United States the opportunity to jointly invest in a critical minerals project as part of tariff negotiations with Washington. Sovereign fund Danantara Indonesia will be involved in the project, he added.
Times of Oman
3 days ago
- Business
- Times of Oman
India restricts imports of jute, its derivatives from Bangladesh
New Delhi: India has imposed port restrictions on the import of jute and several of its derivatives from Bangladesh, with immediate effect, an official from Directorate General of Foreign Trade (DGFT) said. The restriction have been put on flax tow and waste (including yarn waste and garnetted stock); jute and other textile bast fibers, raw or retted; jute (excluding flax, true hemp and ramie); single flax yarn; single yarn of jute or of other textile bast fibers; multiple folded; woven fabrics or flax; and unbleached woven fabrics of jute or of other textile based fibers. Import of such items from Bangladesh shall not be allowed from any land port on India-Bangladesh border, DGFT said. However, it is allowed only through Nhava Sheva seaport in Mumbai. According to DGFT notification dated June 27, these restrictions, however, will not apply to Bangladeshi exports to Nepal and Bhutan transiting through India. But, re-export of such Bangladeshi goods to India from Nepal or Bhutan will not be allowed, DGFT added. On May 17, India had imposed restrictions on the import of Bangladeshi ready-made garments (RMG) and other products through its northeastern land ports -- Assam, Meghalaya, Tripura, Mizoram -- and Fulbari and Changrabandha in West Bengal, weeks after controversial remarks made by Bangladesh's interim chief advisor Muhammad Yunus about the India's northeastern region, during his visit to China. During a speech in China, Bangladesh's Chief Adviser Yunus had described India's northeastern states as a "landlocked region with no access to the ocean." This comment has sparked diplomatic friction, with Indian officials viewing it as undermining the region's connectivity. The May 17 restrictions forced Bangladesh to reroute exports -- including Ready-Made garments (RMG), plastics, melamine, furniture, juices, carbonated drinks, bakery items, confectionery, and processed foods -- through Kolkata port in West Bengal or Nhava Sheva port in Maharashtra, sharply increasing logistics costs. The directive made clear that imports of essential items like fish, LPG, edible oil, and crushed stone remain unaffected. Goods transiting through India from Bangladesh to Nepal and Bhutan were also exempt. The Centre had imposed land port restrictions on certain Bangladeshi exports to the northeastern states, a move that sources had then said was aimed at restoring "equality in the relationship". The sources had further said that while India had hitherto allowed all exports from Bangladesh without restrictions, the transit and market access to India's northeast region had been restricted by Bangladesh. The sources further said that the relationship with Bangladesh will now be on "reciprocal terms". India limiting imports from Bangladesh to only two seaports, according to the sources, was a reciprocal measure to Bangladesh -- which had imposed similar trade restrictions on Indian yarn and rice, besides selectively enhancing inspection on all Indian goods exported to Bangladesh. The sources further noted that Bangladesh needed to realise that "it cannot cherry pick terms of bilateral trade solely for its benefit or assume North East is a captive market for its exports, while denying it market access and transit."
Reuters
3 days ago
- Business
- Reuters
Indonesia to ease import restrictions on goods ahead of U.S. tariff deadline
JAKARTA, June 30 (Reuters) - Indonesia will ease import restrictions and rules on many goods and raw materials in a bid to make it easier to do business in the country, ministers said on Monday, ahead of the July 9 deadline for tariff negotiations set by the United States. While Indonesia is Southeast Asia's largest economy, traders have historically complained about excessive red tape. The matter was also highlighted in a recent report by the U.S. Trade Representative on foreign trade barriers. Coordinating Minister for Economic Affairs Airlangga Hartarto, speaking at an event, said the policy actions would affect 10 groups of commodities. Indonesia Trade Minister Budi Santoso said restrictions would be eased on a number of products including those in the categories of fertilizers, forestry and plastics. He said the new policy would create more certainty for businesses by eliminating overlapping rules. The easing of import requirements and restrictions will also help industry players who have been asking for an easier way to import raw materials, Indonesia Deputy Industry Minister Faisol Reza told a press conference. The Trump administration imposed a 32% tariff on Indonesian goods in his drive to end U.S. trade deficits with countries worldwide. The U.S. goods trade deficit with Indonesia was $17.9 billion in 2024, according to the U.S. Trade Representative.
Times of Oman
19-05-2025
- Business
- Times of Oman
India has restricted imports worth USD 770 mn from Bangladesh, 42% of bilateral imports: GTRI
New Delhi: India's restrictions on imports from Bangladesh via land ports will impact goods worth USD 770 million, accounting for nearly 42 per cent of total bilateral imports, according to the Global Trade Research Initiative (GTRI) report, a trade-focused research Group. Union Ministry of Commerce and Industry on Saturday imposed immediate port restrictions on the import of several categories of goods from Bangladesh, following a directive issued by the Directorate General of Foreign Trade (DGFT). After this decision, key goods like garments, processed foods, and plastic items are now limited to select sea ports or barred from land routes entirely. Under the new policy, Bangladeshi garments, which are valued at USD 618 million annually, can now enter India only through two designated seaports, effectively barring access via land routes that previously served as primary trade arteries. The decision will severely impact Bangladesh's most lucrative export channel to India, the GTRI added. Indian textile manufacturers have long voiced concern over what they describe as unfair advantages enjoyed by Bangladeshi competitors, who benefit from duty-free imports of Chinese fabric and substantial government export subsidies. These factors reportedly give Bangladeshi exporters a 10-15 per cent pricing edge in the Indian market. The GTRI added in its report that these trade measures did not emerge in isolation. "The restrictions look like India's response to Dhaka restricting imports from India on a large number of items and diplomatic pivot towards China," the GTRI report added. The move is also possibly being seen as a response to controversial remarks by Bangladesh's interim chief advisor, Muhammad Yunus. During a speech in China, Bangladesh's Chief Adviser Yunus had described India's northeastern states as a "landlocked region with no access to the ocean". This comment has sparked diplomatic friction, with Indian officials viewing it as undermining the region's connectivity and status. Highlighting Dhaka's increasing proximity with China, the report adds that the fall of Sheikh Hasina's pro-India government in mid-2024 and the rise of an interim administration under Muhammad Yunus have brought a willingness to align with Beijing. Yunus's visit to China in March 2025 yielded USD 2.1 billion in new investments and cooperation agreements. All these developments, along with infrastructure projects like the Teesta River development, have posed a significant threat to India's position in the region. Since late 2024, Bangladesh has imposed a series of restrictions on Indian exports. These include an April 2025 ban on Indian yarn imports through five major land ports, tighter curbs on rice shipments, and import bans on dozens of Indian goods--from paper and tobacco to fish and powdered milk. Adding to the friction, Dhaka introduced a transit fee of 1.8 taka per tonne per kilometre on Indian goods moving through its territory. The report added that these cumulative actions, along with operational delays and tightened port inspections, have hampered Indian exporters and triggered calls for a calibrated response.
South China Morning Post
18-05-2025
- Business
- South China Morning Post
India restricts imports from Bangladesh as ‘reciprocal measure'
India's commerce ministry announced restrictions on some imports from Bangladesh via its land borders, prompting fears for the South Asian country's export-reliant economy. Relations between the two countries have deteriorated after former Bangladeshi prime minister Sheikh Hasina – a long-term New Delhi ally – was ousted last year, and fled to India where she is currently living in self-imposed exile. New Delhi announced late on Saturday that ready-made garments from Bangladesh cannot be imported through land borders, while some other goods – including cotton, processed foods and wooden furniture – have been barred from at least six entry points in northeast India. The announcement came after Bangladesh banned yarn and rice imports from India through the same land routes last month. An Indian government source described the new restriction on garment imports as a 'reciprocal measure', adding that the move will 'restore equal market access for both countries'. The government in Dhaka said it had not been officially informed of the latest restrictions.
