Trade Minister Zulkifli Hasan stated that the Indonesian Government seeks to reach a conclusion to the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) negotiations prior to the end of the government's tenure on October 20.
"Hopefully, the IEU-CEPA will be completed before the incumbent government concludes its tenure in October," he remarked in Jakarta on Friday.
The minister noted that the next round of negotiations is expected to be launched in June.
"I will push for the launch (of the next round) to take place here (in Indonesia). I have asked Mr. Djatmiko, the Trade Ministry's Director General of International Trade Negotiations, to complete the agreement before October 20," he emphasized.
The IEU-CEPA is expected to serve as an instrument for broadening trade activities between Indonesia and the European Union, which, in turn, are expected to boost the growth of the two parties' real gross domestic product (GDP).
A study conducted by the Centre for Strategic and International Studies showed that the IEU-CEPA has the potential to shoot up real GDP growth by 0.10 percent and raise the country's income effect by US$2.8 billion.
Moreover, Indonesia's exports to the EU are likely to increase by 57.76 percent, according to the study.
Economic Affairs Ministry's Deputy for International Economic Cooperation Coordination Edi Prio Pambudi noted that Indonesia and the EU had agreed on 11 out of 21 issues discussed during the 18th round of the IEU-CEPA negotiations.
The 11 issues are customs and trade facilitation, trade remedies, economic cooperation and capacity building, technical barriers to trade, sanitary and phytosanitary measures, small and medium enterprises, dispute settlement, institutional and final provisions, transparency, good regulatory practices, and sustainable food system.
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"Hopefully, the IEU-CEPA will be completed before the incumbent government concludes its tenure in October," he remarked in Jakarta on Friday.
The minister noted that the next round of negotiations is expected to be launched in June.
"I will push for the launch (of the next round) to take place here (in Indonesia). I have asked Mr. Djatmiko, the Trade Ministry's Director General of International Trade Negotiations, to complete the agreement before October 20," he emphasized.
The IEU-CEPA is expected to serve as an instrument for broadening trade activities between Indonesia and the European Union, which, in turn, are expected to boost the growth of the two parties' real gross domestic product (GDP).
A study conducted by the Centre for Strategic and International Studies showed that the IEU-CEPA has the potential to shoot up real GDP growth by 0.10 percent and raise the country's income effect by US$2.8 billion.
Moreover, Indonesia's exports to the EU are likely to increase by 57.76 percent, according to the study.
Economic Affairs Ministry's Deputy for International Economic Cooperation Coordination Edi Prio Pambudi noted that Indonesia and the EU had agreed on 11 out of 21 issues discussed during the 18th round of the IEU-CEPA negotiations.
The 11 issues are customs and trade facilitation, trade remedies, economic cooperation and capacity building, technical barriers to trade, sanitary and phytosanitary measures, small and medium enterprises, dispute settlement, institutional and final provisions, transparency, good regulatory practices, and sustainable food system.
Related news: Indonesia, EU agree on 11 issues during 18th IEU-CEPA negotiations
Related news: Targeting to complete IEU-CEPA negotiations this year: govt
Related news: IEU-CEPA: Indonesia aims to catch up with Vietnam's EU trade
Translator: Maria C, Tegar Nurfitra
Editor: Azis Kurmala
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