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Indonesia aims to finalise negotiations for major trade deals in 2019

The Indonesian Government targeted completing negotiations on Regional Comprehensive Economic Partnership (RCEP), Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA), and Indonesia-Taiwan Economic Cooperation Framework Agreement (IT-ECA) by 2019-end.
Indonesia aims to finalise negotiations for major trade deals in 2019 ảnh 1 Minister of Trade Enggartiasto Lukita (Source: Antara)

Jakarta (VNA) – The Indonesian Government targeted completing negotiations onRegional Comprehensive Economic Partnership (RCEP), Indonesia-KoreaComprehensive Economic Partnership Agreement (IK-CEPA), and Indonesia-TaiwanEconomic Cooperation Framework Agreement (IT-ECA) by 2019-end.

IndonesianTrade Minister Enggartiasto Lukitasaid on September 4 that the trade agreements were aimed at drivingexports while transforming local businesses to become more competitive in theregional and global markets.

“We cannot increase exports and investments ifour country has no trade agreements with other states. Hence, it is crucial forus to seek more collaborations in future,” he stated.

Proposed in 2012, the RCEP aims to reduceimport duties and promote investments, intellectual property rights, andtechnical cooperation among member countries comprising 10 ASEAN nations andits six trade partners - India, China, Japan, the Republic of Korea, Australia,and New Zealand.

The minister stated that this mega pact had yetto be completed, as all member nations are yet reviewing the agreement’s rulesand schemes.

For the IK-CEPA, Indonesia and the Republic ofKorea will ink the pact at the 30th ASEAN-Korea Commemorative Summit in thelatter nation.

In the meantime, the Indonesian government alsoplanned to conclude negotiations on the IT-ECA by the endof 2019, he added.-VNA
VNA
#Indonesian Government#Regional Comprehensive Economic Partnership (RCEP)#Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA)#Indonesia-Taiwan Economic Cooperation Framework Agreement (IT-ECA)#Indonesia#Vietnam#Vietnam news#Vietnam News Agency
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