Jakarta, CNBC Indonesia – The TikTok application platform has now been merged into Tokopedia, controlling more than 75% of the shares. However, this Chinese application still does not meet the rules regarding domestic transaction regulations.
Minister of Trade Zulkifli Hasan still gives Tiktok a maximum of 4 months to comply with existing regulations.
“We will give TikTok a trial for 3-4 months, then we will audit it, who will we appoint later, we want to audit it, because for that matter, it takes time, what is it called, migration takes time, right?” said Zulhas in Trade Performance Achievements. 2023 and 2024 Trade Outlook at the Ministry of Trade, Thursday (4/1/2024).
This is not the first time Zulhas has given TikTok time to migrate. In mid-December, Zulhas also said that he was providing a trial period of 3-4 months for the merger of TikTok Shop with Tokopedia.
“Technology is not easy. We will see how it develops so that it can be perfected. When the time comes we will assess it,” he said at a press conference launching the Tokopedia-TikTok 'Buy Local' campaign at Harbolnas 12.12, Tuesday (12/12/2023).
Zulkfli said the government's main goal is that traders can start selling smoothly again on e-commerce platforms, after the merger of TikTok Shop and Tokopedia.
“Hopefully what the government is doing can build this e-commerce ecosystem for MSMEs and our society,” he said.
TikTok Shop is back operating in Indonesia after being closed for 2 months. The Chinese giant is collaborating with Tokopedia by controlling 75.01% of the company's shares.
The announcement of this collaboration was made after a number of speculations emerged some time ago. TikTok reportedly approached several other local e-commerce companies to comply with regulations and reopen in Indonesia.
As part of this strategic partnership, the Tokopedia and TikTok Shop Indonesia businesses will be combined under PT Tokopedia, where TikTok will have control over PT Tokopedia. The shopping service feature in the TikTok application in Indonesia will be operated and managed by PT Tokopedia.
TikTok invested more than US$1.5 billion to support Tokopedia's operations. Since last Monday (11/12), TikTok Shop sellers have started to be able to take advantage of the selling feature. Customers can now buy goods at the TikTok Shop today.
[Gambas:Video CNBC]
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