Minister of Trade Zulkifli Hasan: TikTok Shop Joins Tokopedia Still Undergoing 4 Months Trial

Mendag Zulkifli Hasan: TikTok Shop Gabung Tokopedia Masih Uji Coba 4 Bulan

Mendag Zulkifli Hasan: TikTok Shop Joins Tokopedia Still in 4-Month Trial

"Dream - Minister of Trade Zulkifli Hasan said the government is giving a trial period of three to four months for the merger of TikTok Shop with Tokopedia. The government will observe, audit, and evaluate during this trial period."

"Trial Period"

The translation of the given 'Bahasa' text to 'English' while preserving any html tags is as follows: "Penilaian masa uji coba disesuaikan dengan Peraturan Menteri Perdagangan Nomor 31 Tahun 2023 tentang Perizinan Berusaha, Periklanan, Pembinaan, dan Pengawasan Pelaku Usaha dalam Perdagangan melalui Sistem Elektronik." The trial period assessment is adjusted according to Minister of Trade Regulation Number 31 of 2023 regarding Business Licensing, Advertising, Development, and Supervision of Business Actors in Electronic Trading."

"Tokopedia's e-commerce collaboration with TikTok. So TikTok itself is not an e-commerce platform, but the e-commerce part of it is Tokopedia. However, this requires high technology and may take around three to four months for them to experiment," said Zulhas during the National Online Shopping Day (Harbolnas) conference on December 12, Tokopedia and TikTok Launch the 'Buy Local' Campaign in Jakarta, Tuesday, December 12, 2023."

The government requested a strategic partnership between TikTok Shop and Tokopedia to prioritize the sale of local products. "We will evaluate the results of the collaboration later," added Zulhas.

Minister of Trade Zulkifli Hasan: TikTok Shop Joins Tokopedia Still Undergoing 4 Months Trial

The program launched during this trial period is the Buy Local campaign, which started on December 12, 2023, coinciding with Harbolnas, available on the Tokopedia and TikTok applications. The Buy Local campaign will promote various types of merchants, with a primary focus on Indonesian products.

"Previously, PT GoTo Gojek Tokopedia Tbk (GOTO), the parent company of Tokopedia and TikTok, officially announced a strategic partnership. The businesses of Tokopedia and TikTok Shop Indonesia will be combined under PT Tokopedia."

In addition, TikTok will have control over PT Tokopedia. The in-app shopping service feature on TikTok in Indonesia will be operated and managed by PT Tokopedia.

The translation of the given 'Bahasa' text to 'English' while preserving the HTML tags is as follows: The sustainability of this strategic partnership, TikTok has invested more than US$1.5 billion or approximately Rp23.41 trillion (exchange rate of Rp15,607 per US$).

"The transaction is expected to be completed in the first quarter of 2024. This agreement is in line with GoTo Group's steps to strengthen its financial position and the Company's strategy to expand market coverage (total addressable market)."

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