JAKARTA-(IDB) : Indonesia has launched a formal defence offset and countertrade programme to boost the country's economy and spur the development of its defence industrial base.
The economic compensation policy was announced on 5 April by the Indonesian Ministry of Defence's (MoD's) Defence Industrial Policy Committee (KKIP), although the document is awaiting clearance from President Susilo Bambang Yudhoyono before publication.
Silmy Karim, the KKIP's special staff for co-operation and institutional relations, told IHS Jane's that president approval could take "about two weeks". Once approved, the policy is expected to be published on the Indonesian MoD website.
Key tenets of the policy are framed by the Defence Industry Law 2012 (known in Indonesia as UU No.16 2012).
Source : Jane's