Southeast Asia Information Port News (www.dnyxxg.com) – On August 5th, the Indonesian Ministry of Trade announced that the country has finalized the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA), becoming Indonesia's first comprehensive economic partnership agreement with North America.
Negotiations for ICA-CEPA concluded in December 2024 and are expected to be formally signed in September or October of this year. The two countries have signed a joint statement regarding the completion of ICA-CEPA negotiations.
Djatmiko Bris Witjaksono, Director General of International Trade Negotiations at the Indonesian Ministry of Trade, stated that the agreement is expected to expand opportunities for Indonesian goods and services to enter the North American market. In addition to trade in goods, ICA-CEPA also facilitates Indonesian service providers in areas such as commerce, telecommunications, construction, tourism, and transportation.
Regarding investment, the agreement will support the development of multiple sectors including manufacturing, agriculture, fisheries, forestry, mining, and energy. ICA-CEPA also covers commitments regarding intellectual property, good governance, e-commerce, competition, support for SMEs, promoting the economic role of women, environmental protection, and labor.
On this occasion, Indonesia announced the completion of negotiations on the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU–CEPA). According to the agreement, approximately 80% of tariff lines will be eliminated, opening the door to greater depth and breadth of bilateral trade and investment cooperation. (End)
