This was discussed during a bilateral meeting between Indonesian Trade Minister Budi Santoso and Minister of Economy, Trade, and Industry of Japan, Yoji Muto, on the sidelines of the APEC Economic Leaders' Week 2024 in Peru on Thursday.
"At this bilateral meeting, both countries agreed to push for the completion of the ratification of the IJEPA amendment protocol. The ratification process is currently underway in both countries with an implementation target of 2025," Santoso informed in a statement issued on Friday.
The Protocol to Amend the IJEPA is an amendment and enhancement of the IJEPA commitment that has been in effect since 2008.
The Protocol to Amend the IJEPA includes chapters on Trade in Goods, Trade in Services, Trade Through Electronic Systems (E-Commerce), Movement of Natural Persons (MNP), Cooperation, Intellectual Property, and Government's Goods and Services Procurement.
"Indonesia is hoping for good cooperation and collaboration with Japan for the co-chairmanship of RCEP (Regional Comprehensive Economic Partnership) in 2025," he said.
He noted that the RCEP Support Unit (RSU) at the ASEAN Secretariat, Jakarta, will be inaugurated on December 9, 2024.
He expressed the hope that the implementation of RCEP can be made more effective and efficient to contribute to economic integration in the region.
Next year, Japan will hold the World Expo 2025 Osaka. Santoso said that Indonesia welcomes the implementation of the Osaka expo and will participate in it through the Indonesian Pavilion.
He also called upon all APEC economies to support multilateral trade and ensure its inclusiveness.
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Translator: Maria Cicilia, Raka Adji
Editor: Azis Kurmala
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