I focus on the discussion on economic cooperation. We welcome the increasing bilateral trade even amid the pandemicJakarta (ANTARA) - Indonesia and Canada have agreed to intensify economic cooperation, especially on trade, investment, and energy transition.
“I focus on the discussion on economic cooperation. We welcome the increasing bilateral trade even amid the pandemic,” Foreign Affairs Minister Retno Marsudi stated during a virtual press briefing on the visit of Canadian Foreign Affairs Minister Melanie Joly here on Monday.
Marsudi and Joly inked the Indonesia-Canada Plan of Action for the 2022-2025 period that would serve as guidance for both countries to navigate the cooperation in the next four years.
Trade between Indonesia and Canada trade increased almost 30 percent in 2021 and reached US$3.12 billion.
To further strengthen bilateral trade, both countries already started the first round of negotiation of Comprehensive Economic Partnership Agreement (CEPA) last month.
“We agree to intensify the negotiations to be concluded within a clear time frame,” Marsudi noted.
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On investment, however, the figure in 2021 slightly increased by almost four percent.
Canada invested in several infrastructure projects, including the development of the Cikopo-Palimanan Toll Road (Cipali) and the infrastructure project for the Port of Gresik expected to be operational next year.
To continue this synergy, cooperation with the Indonesia Investment Authority (INA) in renewable energy and green infrastructure will be mostly welcomed, she remarked.
On the extraction of rare earth elements, Marsudi expressed Indonesia’s support for the prospective discussion between PT. Timah and Canada Rare Earth Corporation to form a joint venture.
Both countries are committed to accelerating energy transition to progress towards achieving a net-zero emission future.
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They agreed to promote cooperation on the transition to cleaner energy sources, including on hydrogen fuel cell technology and development of green hydrogen strategy, as well as potential partnership between Carbon Engineering Limited and PT Pertamina on carbon capture, utilization, and storage (CCUS).
Pertaining to the health issue, Indonesia and Canada have always been in close contact, as the minister joined the initiative of Canada on Ministerial Coordination Group on COVID-19 (MCGC), among others, to discuss the issue of supply chain.
Marsudi lauded Canada's support to Indonesia in addressing the pandemic.
Along with the Minister of International Development of Canada, she co-chaired the COVAX AMC Engagement Group.
“We share the same views that collaboration and solidarity on equal access to vaccines is the only option to exit together from the pandemic,” she stressed.
With regard of cooperation, Minister Joly reiterated commitment to strengthening bilateral relations in various aspects between both nations.
“For Canada, Indonesia is our key partner in economic cooperation among ASEAN countries. We agree to explore the initiatives to strengthen the relationship, especially for post-pandemic recovery,” Joly remarked.
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Reporter: Juwita Trisna Rahayu
Editor: Fardah Assegaf
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