The CEPA agreement is expected to not only benefit the trade sector but also other economic areas, she added.
"During 52 years of bilateral relations between Indonesia and Chile, both countries have improved joint programs in several fields, including economy, culture, and politics," Bachelet said in a joint statement with Indonesian President Joko Widodo at the Merdeka Presidential Palace in Jakarta.
Bachelet noted that Indonesia is ranked the worlds four-largest populated country and has recorded an impressive economic growth in the past years.
"I understand that Indonesia and Chile are separated by a huge geographical gap. However, the two countries have been connected through some associations, including the Asia-Pacific Economic Cooperation and an international forum on ocean and climate change," Bachelet remarked while expressing her commitment to protecting the worlds maritime zones.
The Chilean president further said that apart from improving the trade sector, the sharing of knowledge and experiences between both countries is also vital.
"Indonesia and Chile could maintain more robust relations in the future by enhancing cooperation in the power sector," the Chilean president noted while adding that the former country has huge potential in the form of solar and geothermal energy reserves.
During the event, both presidents also witnessed the signing of two agreements on offering mutual visa exemptions for diplomatic passport holders and a joint-ministerial statement on negotiations for CEPA.
The trade volume between Indonesia and Chile stands at around US$227.15 million, while the former country had recorded a trade surplus of $60.5 million in 2016.
In the last two months, the two countries had resumed the CEPA negotiations that had got delayed for over two years.
The Trade Ministrys International Trade Negotiations Director General Imam Pambagyo stated in March that the pact remains crucial since Chile has dozens of Free Trade Agreements with more than 60 countries mostly located in the Latin American region.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2017
