Rabu, Juni 19, 2024

List of Export Restricted Goods Revised Following Relaxation of Export Policies

Through the issuance of Regulation of the Minister of Trade No. 11 of 2024 ("Regulation 11/2024") on the Amendment to Regulation of the Minister of Trade No. 23 of 2023 on Export Policies and Arrangements ("Regulation 23/2023"), the Minister of Trade has declared that mining products that derive from the processing and/or refining of five mining commodities (i.e. laterite iron concentrate, copper concentrate, zinc concentrate, lead concentrate and anode slime) are only permitted to be exported until 31 December 2024. These five mining commodities may only subsequently be exported for certain purposes (e.g. research and development and re-exportation) commencing 1 January 2025.
In line with the enforcement of Regulation 11/2024, the Minister of Finance ("Minister") has issued an updated list of goods that are export-restricted based on the newly introduced framework of Regulation 11/2024 through the issuance of Decree No. 20/KM.4/2024 ("Decree 20/2024"), which has been in force since 1 June 2024. The enforcement of Decree 20/2024 has resulted in the repeal and replacement of the previous list of export-restricted goods set out under Decree of the Minister No. 21/KM.4/2023 ("Decree 21/2023").
The new list of export-restricted goods is comprehensively outlined under the Appendix to Decree 20/2024, while this new framework affirms that any subsequently introduced Regulation that removes any items from the list of restricted goods set out under Decree 20/2024 will consequently result in the repeal and replacement of said framework.
In comparison with Decree 21/2023, the more recent framework of Decree 20/2024 continues to feature a total of 1720 goods that are restricted from being exported, as originally outlined under Decree 21/2023. Decree 20/2024 primarily updates the dates upon which the previously described export restrictions on five mining commodities will come into force.

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*Syarat dan ketentuan berlaku

Through the issuance of Regulation of the Minister of Trade No. 11 of 2024 ("Regulation 11/2024") on the Amendment to Regulation of the Minister of Trade No. 23 of 2023 on Export Policies and Arrangements ("Regulation 23/2023"), the Minister of Trade has declared that mining products that derive from the processing and/or refining of five mining commodities (i.e. laterite iron concentrate, copper concentrate, zinc concentrate, lead concentrate and anode slime) are only permitted to be exported until 31 December 2024. These five mining commodities may only subsequently be exported for certain purposes (e.g. research and development and re-exportation) commencing 1 January 2025.
In line with the enforcement of Regulation 11/2024, the Minister of Finance ("Minister") has issued an updated list of goods that are export-restricted based on the newly introduced framework of Regulation 11/2024 through the issuance of Decree No. 20/KM.4/2024 ("Decree 20/2024"), which has been in force since 1 June 2024. The enforcement of Decree 20/2024 has resulted in the repeal and replacement of the previous list of export-restricted goods set out under Decree of the Minister No. 21/KM.4/2023 ("Decree 21/2023").
The new list of export-restricted goods is comprehensively outlined under the Appendix to Decree 20/2024, while this new framework affirms that any subsequently introduced Regulation that removes any items from the list of restricted goods set out under Decree 20/2024 will consequently result in the repeal and replacement of said framework.
In comparison with Decree 21/2023, the more recent framework of Decree 20/2024 continues to feature a total of 1720 goods that are restricted from being exported, as originally outlined under Decree 21/2023. Decree 20/2024 primarily updates the dates upon which the previously described export restrictions on five mining commodities will come into force.

......