"We have many trade agreements around the world. As of today, we have 37 (trade agreements)," he stated during the opening of the 2024 Inabuyer event in Jakarta on Wednesday.
One of the trade agreements that can be utilized by business players is the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).
IA-CEPA is a comprehensive economic partnership agreement between Indonesia and Australia, with one of the objectives being to expand market access and boost the competitiveness of Indonesian products, especially agriculture, fisheries, industry, and forestry.
Through the agreement, which took effect in July 2020, Australia eliminated 6,474 tariff posts, or 100 percent of the total tariff posts, so that Indonesian products exported to the country are not subject to import duties.
"This can cut costs by 20-25 percent. This provides motivation for our exporters to send goods (to foreign markets)," the deputy minister stated.
He affirmed that the Ministry of Trade continues to make efforts to establish trade agreements with other countries in a bid to open market access for Indonesian products.
To this end, the ministry is encouraging business players to capitalize on the programs that are created from the trade agreements.
Sambuaga expressed optimism that by taking advantage of the existing trade agreements, MSME players will not only be able to increase their exports but will also contribute to the national economic growth, especially foreign exchange and trade balance surpluses.
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Translator: Shofi Ayudiana, Raka Adji
Editor: Rahmad Nasution
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