"The completion of the IEU-CEPA (Indonesia-European Union) and the signing of the ICA-CEPA (Indonesia-Canada) are the starting points to strengthen our trade position on the global stage, especially in the current geopolitical and global trade climate," he conveyed at the opening of the ICA-CEPA and IEU-CEPA Strategic Forum on Monday.
Santoso outlined that Indonesian exports to Canada were recorded at US$3.5 billion in 2024, while those to the European Union stood at US$30 billion in the same year.
He noted that this economic agreement is expected to increase Indonesian exports to Canada and the European Union.
The minister then expressed optimism that the ICA-CEPA will open Indonesia's market access to the North American region.
In addition, a special team will be prepared to handle matters related to the CEPA, especially after its implementation, he continued.
The ICA-CEPA was signed in Ottawa, Canada, on September 24, 2025. Through this agreement, more than 90 percent, or approximately 6,573 Indonesian tariff lines, receive preferential treatment in the Canadian market.
Potential Indonesian products, such as textiles, footwear, furniture, processed foods, light electronics, automotive electronics, and even swallow's nests, are predicted to become increasingly competitive, the minister disclosed.
According to him, some products will enjoy 0 percent tariffs upon the agreement's entry into force, such as processed foods, seafood, natural fiber craft products, household appliances, and granite and marble.
Meanwhile, the IEU-CEPA was signed in Bali on September 23, 2025, where the agreement covers trade in goods and services, as well as investment between Indonesia and the European Union.
For goods, both parties are committed to eliminating tariffs on more than 98 percent and nearly 99 percent of the import value, Santoso said.
His party is targeting an estimated 2.5-fold increase in Indonesian exports to the European Union in the next five years following the implementation of the agreement.
These exports cover Indonesian products involving labor-intensive sectors, namely palm oil, coffee, textiles, fisheries, electronics, footwear, forestry products, and furniture.
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Translator: Resinta Sulistiyandari
Editor: Azis Kurmala
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