One of the efforts taken by the government to boost trade has been strengthening and accelerating trade negotiations with other countries, including Tunisia, whose trade agreement with Indonesia is expected to be ratified soon, she informed here on Thursday.
In addition, the government is actively engaged in trade talks with the Gulf Cooperation Council (GCC), Sri Lanka, the ASEAN-Canada Free Trade Agreement (FTA), Turkey, and the Southern Common Market (Mercosur), she said.
Currently, Indonesia has signed 19 free trade agreements or comprehensive economic partnership agreements (CEPA) with ASEAN countries, China, Japan, South Korea, Australia, New Zealand, Hong Kong, Pakistan, and Chile.
Earlier, Trade Minister Budi Santoso said that the government has finalized several strategic trade negotiations to open up non-traditional export markets.
They include the Indonesia-United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA), the Indonesia-Eurasian Economic Union Free Trade Area (I-EAEU FTA), and the trade agreement with Tunisia.
“The IUAE-CEPA and I-EAEU FTA negotiations have been completed. Tunisia’s agreement was also finalized this month. These are all major markets we can now tap into,” he informed.
According to Santoso, the step is an anticipatory measure to face possible disruptions in supply chains or demand from markets affected by global conflicts.
Recently, US President Donald Trump confirmed that the US will maintain its 32 percent import tariff on Indonesian products, consistent with the reciprocal tariff rate announced earlier in April.
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Translator: Ahmad, Kenzu
Editor: Azis Kurmala
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