The negotiations are taking place in Bandung, West Java, from November 4–10, 2024.
"Indonesia is committed to continuing constructive negotiations and appreciates Canada's flexibility to reach an agreement. We are optimistic that the negotiations will produce a substantial agreement by the end of this year," she said in a statement released by her office on Wednesday.
In the current round, Indonesia and Canada will continue discussions on the remaining issues, such as market access for goods and services, investment, sustainable development, and discussions on critical minerals, she informed.
According to Esti, the 10th round is targeted to be the final round of negotiations on ICA-CEPA.
Her party is focusing on the completion of the negotiations as one of the ministry's work programs to expand the export market, along with wrapping up negotiations with Eurasia and Peru.
Furthermore, Esti drew attention to the importance of flexibility and creative solutions from both parties in resolving complex issues that require joint solutions.
"Negotiations require flexibility and creativity. Therefore, I laud both delegations for their hard work and dedication. Adjusting ambitions does not sacrifice the expected results, but reflects a balanced approach to solutions accepted by both parties," she said.
She further said she believes that the negotiations can deepen bilateral trade and support the economic goals of both countries.
Based on data from the Trade Ministry, the total trade between Indonesia and Canada was recorded at USD2.4 billion in January–August 2024.
During that period, Indonesia's exports to Canada reached USD935.8 million, while its imports from Canada were recorded at USD1.46 billion.
Indonesia's main export commodities to Canada are telephone equipment, waste and used goods, natural rubber, and travel goods.
Meanwhile, Indonesia's main import commodities from Canada are wheat, fertilizer, soybeans, and sawdust.
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Translator: Maria Cicilia G P, Resinta Sulistiyandari
Editor: Rahmad Nasution
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