The economic minister said Indonesia plans to reduce import tariffs on naphtha to zero.

Indonesia's economic minister announced plans to eliminate import tariffs on naphtha, a key feedstock for the petrochemical industry. This move is expected to enhance the country's competitiveness in the global market by lowering production costs, thereby influencing the rate differential between domestic and international naphtha prices. The reduction in tariffs could lead to increased capital flows into the Indonesian petrochemical sector, as companies may seek to capitalize on the lower input costs. Traders will be particularly focused on the upcoming trade data release, which may provide insights into the impact of this policy change on import volumes and overall economic activity.

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