Business law and its effects on commercial transactions

• Evita Isretno Israhadi Faculty of Law, Universitas Borobudur, Jakarta, Indonesia

Palabras clave: Business Law, WTO Agreement, License

Resumen

This study surveyed the Indonesian business law, import and
joint venture licensing regulations and found out how the law has

implemented sweeping regulations imposing non-automatic import
licensing procedures. The study adopted a qualitative method approach
employing the inductive method of collecting data. As a result, the
Indonesian business law even violated the WTO agreement by
introducing arbitrary regulations sanctioning imports in a few cases. In
conclusion, the government must also try to accelerate regulatory
reforms, particularly in services sectors where market restrictions have
been shown to negatively affect trade in manufactured goods.