Examining International Trade

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The following is important information related to the development of the business universe that needs attention today based on the curation of the SUAR Team.

Government Ensures Indonesia-US Tariff Negotiations Continue

On Wednesday (10/12), Trade Minister Budi Santoso confirmed that trade negotiations between the US and Indonesian governments would continue, while denying rumors that the negotiations reached in July could potentially be canceled. Budi said that this information was incorrect and not based on facts. On the contrary, Indonesia and the United States are still actively negotiating several commitments.

Impact of ICA-CEPA, Canada Expands Agri-Food Cooperation with Indonesia

Indonesia and Canada are opening up opportunities for expanded cooperation in the agrifood sector, such as agricultural technology, innovation, and sustainable practices, ahead of the signing of the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA). Indonesia, the most populous country in ASEAN, has a market with strong influence in the region. Canada also has strong trade relations in this sector. In 2024, Canadian agrifood and seafood exports to Indonesia reached more than US$ 1.2 billion. Commodities such as wheat, soybeans, and potash play an important role in maintaining Indonesia's food stability and supporting national agricultural productivity.

61% Customs Complaints about Online Shopping

The Directorate General of Customs and Excise (DJBC) of the Ministry of Finance received 7,219 reports of fraud as of November 2025. The majority of complaints, namely 61% or 4,462 complaints, involved online shopping. Based on this experience, the DJBC intensified two improvement strategies: intensifying the Stop Cek Lapor campaign ahead of National Online Shopping Day (Harbolnas) and launching a new version of the beacukai.go.id website with a number of service feature improvements.

Read the full story here.

The Digital Economy is the Economy of the Future

At the "Indonesia Digital Direction Declaration" event in Jakarta on Wednesday (10/12/2025), Asian Development Bank Institute CEO Bambang Brodjonegoro assessed that focusing on future industries was the key that proved to bring Japan, South Korea, Singapore, and Taiwan to become developed countries in the early 1990s. That is why, Bambang emphasized, Indonesia needs to focus more on boosting the green economy and the digital economy as two promising future niches. The large population and the composition of an adaptive young population guarantee sufficient demand and a market estimated to be worth USD 340 billion by 2030.

Read the full story here.

The Challenge of Coal Downstreaming Amid Global Market Dynamics

The imposition of export duties poses a challenge for the coal mining industry, which has been the backbone of exports and contributes significantly to gross domestic product (GDP). The mineral and coal sector (minerba) contributes significantly to GDP. In 2022, its contribution will be 9.2%. However, its role is expected to decline to around 6.8% in 2025, with the contribution value decreasing from IDR 1,805.8 trillion (2022) to IDR 1,613.1 trillion (2025). This decline in percentage is likely influenced by commodity prices or growth in other sectors. In 2025 (up to the third quarter), the contribution value of this sector increased by 7.5% compared to the previous year.

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Monthly Board of Commissioners Meeting (RDKB) of the Financial Services Authority (OJK) November 2025. OJK will hold a Press Conference for the November 2025 RDKB on Thursday, December 11, 2025, at 2:00 p.m. - 4:30 p.m. WIB. This event aims to provide the public with the latest information on the performance of the financial services sector, as well as to convey the OJK's strategic policies in maintaining financial sector stability and strengthening consumer protection. This press conference will be held online (via Zoom Meeting).

KOMPAK Seminar (Optimal Collaboration Towards Fair and Consistent Taxation) with the theme "Examining the Tax Gap and the Effectiveness of Fiscal Governance in the Mineral and Coal Sector". The Tax Training Center will hold this seminar on Thursday, December 11, 2025, from 8:00 a.m. to 12:30 p.m. Western Indonesian Time. This seminar aims to thoroughly discuss the potential tax gap and the effectiveness of fiscal governance in the mineral and coal mining sector. The main speakers will be from various related agencies, including Keynote Speaker Bimo Wijayanto (Director General of Taxes) and Opening Speech Sudarto (Acting Head of BPKP), as well as panelists from the Ministry of Energy and Mineral Resources, Directorate General of Taxes (DJP), Directorate General of Natural Resources and Fiscal Energy (DJSEF), and the Directorate General of Budget (DJA), as well as industry practitioners. This seminar can be accessed for free online via the Tax Training Center's YouTube Live. More detailed information about the event can be accessed directly through the Tax Training Center's social media.

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