**Impact of Import Influx on Petrochemical Industry, Awaits Confirmation on Revision of Trade Minister Regulation 8/2024**
In a recent development, Minister of Industry Agus Gumiwang Kartasasmita has expressed his approval of Trade Minister Budi Santoso’s plan to revise Trade Minister Regulation (Permendag) Number 8 of 2024. This positive step marks the beginning of 2025 as mentioned by Agus a few days ago.
Agus stated that his ministry has been involved in discussions with the Ministry of Trade regarding Permendag Number 8 of 2024. He also highlighted the readiness of the Ministry of Industry to provide input on the substance of the revision.
The coordination between ministries is a crucial element in addressing the challenges faced by the national industrial sector. The efforts of the Ministry of Industry and the Ministry of Trade to evaluate import policies through the revision of Permendag Number 8 of 2024 are underway. Meanwhile, the challenges in the labor sector have not gone unnoticed.
### Ministry of Trade to Revise Permendag Number 8 of 2024
The possible revision of Trade Minister Regulation Number 8 of 2024 on Import Policies and Regulations is expected to be based on a review with other ministries and institutions. Deputy Minister of Manpower, Immanuel Ebenezer Gerungan, has received information from various stakeholders, including the Association of Synthetic Fiber and Filament Yarn (APSyFI), regarding the wave of layoffs between 2022 and 2024.
### Concerns Raised by APSyFI
APSyFI has raised concerns that illegal imports not only weaken the textile and textile product (TPT) industry but also the petrochemical industry, which serves as the main raw material for textiles, specifically Purified Terephtalic Acid (PTA). This situation has triggered deindustrialization and poses a significant threat as we enter 2025.
In a previous interview, Noel from APSyFI highlighted the alarming prospect of approximately 60 companies planning layoffs due to the ease of importing finished goods facilitated by Trade Minister Regulation Number 8 of 2024. The bankruptcy of these textile companies was attributed to regulations that did not support the performance of the domestic textile industry.
### Call for Revision
Noel hopes that the concerns regarding this regulation will be heard by the relevant ministries. He emphasizes the need for the revision of Trade Minister Regulation Number 8 of 2024 to alleviate the challenges faced by domestic industries.
As we navigate the complexities of trade regulations and their impact on various sectors, it is imperative to seek a balance that fosters growth and sustainability within the industry. The revision of regulations to address these issues is a crucial step towards ensuring a thriving and competitive industrial landscape.
