VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Financial Services Authority -OJK confirmed that virtual currency, including Bitcoin, is not a valid payment instrument in Indonesia. The provision has been valid since the beginning of the year.  OJK Chairman of the Board of Commissioner, Wimboh Santoso said in Jakarta on Thursday, January 25^th) that the legitimate means of payment in Indonesia is the currency -rupiah. He stated that crypto-currency is already banned. His statement responded to the launch of investment products in the form of crypto-currency by Aladin Capital. The currency is reported to have a guarantee in HSBC and has grown rapidly in several countries, especially in Vietnam. The prohibition of virtual currency, including Bitcoin by the authorities must be obeyed by the financial services sector. Wimboh asserted that OJK is the authority that supervises and gives permission for investment products, so that any financial services institution that launches investment products must report to the institution. (Tempo)

Minister of Trade, Enggartiasto Lukita stated that Indonesia successfully won a biodiesel dispute with the European Union -EU. The final result of the WTO Dispute Council Panel ruling won six Indonesian lawsuits against the EU. This was disclosed by Minister Enggartiasto Lukita from Islamabad, Pakistan on Friday (26/1). This is a form of landslide victory for Indonesia which certainly opens wide market access and re-spurred the performance of biodiesel exports to the European Union for Indonesian producers who previously had experienced the lethargy due to the imposition of anti-dumping duties on the product. The EU imposed anti-dumping duties on Indonesia's biodiesel products since 2013 with a dumping margin of 8.8 percent to 23.3 percent. Since then, Indonesia's biodiesel exports to the EU have declined. Based on data from the Central Bureau of Statistics from 2013-2016, Indonesia's biodiesel exports to the EU fell from $ 649 million dollars in 2013 to $150 million dollars in 2016, down 42.84%. Indonesia's victory over the dispute gives hope to Indonesian biodiesel exporters and producers. (Release of ministry/Trans by Rhm))

On the sidelines of the ASEAN-India Summit, President Joko Widodo held a bilateral meeting with Indian Prime Minister, Narendra Modi in New Delhi, India on Thursday (25/1). In the meeting, President Joko Widodo conveyed the importance of efforts to improve economic cooperation. He assessed that the bilateral trade between the two countries has actually begun to grow since last year but still far from the real potential. President Joko Widodo hopes to enhance trade, including eliminating trade barriers. President Joko Widodo also pointed out that the increase in import duty rates is high enough to palm oil to India. The increase in the price of palm oil will affect Indonesia's exports. President Joko Widodo asserted that if Indonesia's palm oil exports are reduced, surely it will also affect the fulfillment of India's growing market needs. Thus, he strongly expects the Indian government to reconsider tariff policy on vegetable oil. (Release of the palace press bureau/Trans by Rhm)

Indonesian Ministry of Trade requires exporters and importers to use ships owned by Indonesian national shipping companies in their trading activities. Director General of Foreign Trade at the Ministry of Trade, Oke Nurwan said that Indonesia has not optimally maximized the potential in the field of shipping and trade insurance services. he explained in Jakarta on Thursday, (January 25^th) that the use of national ships for the movement of domestic goods has been 95 percent. However, for international shipping, the number is still very small. Therefore, the government requires exporters and importers to use national shipping through Regulation of the Minister of Trade No. 82/2017 on Terms of Use of Sea Transport and National Insurance for Export and Import of Certain Goods. He also said that the policy is part of the package of 15^th economic policy.  Oke said “…Because, there is no trigger if we do not intervene. Well, with 82^nd ministerial regulation, we have a mandatory trigger. Well… later, we will arrange the exceptions”. 

Oke further explained that so far, exporters and importers have been in favor to use foreign shipping companies. Since, they are easier in terms of bureaucracy. Thus, the government will invite national shipping companies, insurance companies and exporters and importers to meet and discuss the issues. In the first phase, Oke targets that to export coal and crude palm oil -CPO is obliged to use national shipping services, and then other commodities will follow. This policy will take effect from 1^st of May 2018. (Sekar/trans by Rezha)