REPUBLIKA.CO.ID, JAKARTA -- The Indonesian government has set a safeguard on the import of steel wire rod at 14.5 percent after imports of the product surged between 2010 and 2013.

"The result of an investigation shows that there has been an absolute surge in the import of the product from 2010 to 2013, reaching 47.6 percent," the Chief of the Indonesian Trade Safeguard Committee (KPPI), Ernawati, said in a press statement released on Thursday.

The 47.6 percent surge is reflected in the imports of steel wire rod, which soared to 677,965 tons in 2013 from 222,867 tons in 2010.

Nearly 79.7 percent of the steel wire rod imports came from China, 0.8 percent from Japan, and 5.4 percent from Malaysia.

The imported goods subjected to safeguards are those carrying a series of (HS) Ex. 7213.91.10.00, 7213.91.20.00, 7213.91.90.00, 7213.99.10.00, 7213.99.20.00, 7213.99.90.00, and 7227.90.00.00.

The imposition of safeguards is based on the Finance Minister' regulation, dated August 11, which is related to the imposition of safeguards on the import of steel wire rod.

The safeguard will be imposed in three phases, with the first one starting from August 17, 2015 to August 16, 2016 at the rate of 14.5 percent, the second period will be from August 17, 2016 to August 16, 2017 at 10 percent and the third period will be from August 17, 2016 to August 16, 2017 at see a rate of 5.5 percent.

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