By Inside Retail Asia
Indonesian tech firm GoTo and Chinese-owned partner TikTok will be wholly compliant in a month and a half with the Southeast Asian nation’s regulation that bans in-app transactions on social media, GoTo’s CEO said on Wednesday.
Short video app TikTok acquired in December majority shares in GoTo’s e-commerce unit Tokopedia after the Indonesian trade ministry banned transactions on its TikTok Shop e-commerce unit.
“Integration process is going well. All parties continue to communicate with the related ministries and as far as we know the process is nearing completion,” CEO Patrick Walujo said in an online briefing.
Indonesian minister for small and medium enterprises Teten Masduki said last week TikTok had yet to comply with the regulation.
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