The agreement signing was carried out by Indonesian Trade Minister Budi Santoso and Canadian Minister of Export Promotion, International Trade, and Economic Development Mary Ng at the opening event of the Canadian Trade Mission to Indonesia here on Monday.
"After negotiating for more than 2.5 years, Indonesia finally managed to have a comprehensive trade agreement with Canada. Through the ICA-CEPA, Indonesian products will have wider market access to the North American region, especially Canada," Santoso stated.
He explained that in addition to the trade of goods, the agreement covers preferential treatment for Indonesian service providers, including for the business, telecommunications, construction, tourism, and transportation service sectors.
The ICA-CEPA will also facilitate access to investment in the manufacturing, agriculture, fisheries, forestry, mining and quarrying, and energy infrastructure sectors.
The agreement also includes other commitments in intellectual property rights, good regulatory practices, e-commerce, business competition, small and medium enterprises (SMEs), women's economic empowerment, the environment, and employment.
In addition to the ICA-CEPA signing, the Canadian Trade Mission team's visit to Indonesia on December 1-3, 2024, also became an important moment.
This trade mission brought over 180 Canadian companies to explore cooperation opportunities in priority sectors, such as agriculture, clean technology, information technology, and infrastructure with Indonesia.
Moreover, Minister Santoso affirmed that Indonesia expresses its support to Canada which will preside over the G7 Presidency in 2025.
"Indonesia believes that Canada will play a big role as a bridge between developed and developing countries," he affirmed.
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Translator: Maria P, Kenzu
Editor: Rahmad Nasution
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