Provisions on Importers and Exporters with Good Reputations Finally Introduced

The Minister of Trade (“Minister”) has issued Regulation No. 17 of 2021 on Importers and Exporters with Good Reputations (“Regulation 17/2021”) as an implementation of Regulation of the Government No. 29 of 2021 on the Organization of the Trade Sector.[1] As its title suggests, Regulation 17/2021 sets out a new regulatory framework that addresses criteria and procedures for the stipulation of importers and exporters with good reputations. Said importers and exporters may then enjoy relaxations in terms of the business licensing process.[2]