The statement stressed that mandatory insurance is justified only in situations where activities pose clear risks to third parties, such as motor third-party insurance or insurance for public commercial facilities. “Marine cargo insurance does not fall within this category,” the coalition noted. According to the statement, enforcing an additional local insurance requirement would result in unnecessary double insurance without any added benefit. It further noted that in credit-based transactions, suppliers often retain ownership interests in goods, making it impractical for local traders to dictate insurance arrangements. The statement urged the Ministry of Finance to withdraw the directive—scheduled to take effect on February 1, 2026—and to engage industry stakeholders to develop a more practical and inclusive marine insurance policy framework.