Indonesia pushes to finalise trade agreements in 2022

Indonesia will give priority to the early ratification of a number of bilateral trade agreements, particularly a comprehensive economic partnership agreement (CEPA) with the United Arab Emirates (UAE), according to the country's Trade Minister Muhammad Lutfi.

Thursday, January 20, 2022 11:20

Indonesia pushes to finalise trade agreements in 2022 ảnh 1

Indonesian Trade Minister Muhammad Lutfi (R) and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi. (Source: The Jakarta Post/Norman Harsono)

Jakarta (VNA) – Indonesia will give priority to theearly ratification of a number of bilateral trade agreements, particularly a comprehensiveeconomic partnership agreement (CEPA) with the United Arab Emirates (UAE), according to the country's Trade Minister Muhammad Lutfi.

At a webinar on January 19, the minister said that hisministry will strive to finalise the CEPA by the end of March.

Currently, trade between the sides reaches 2.9 billion USD. Lutfiexpects the number to increase by 2 to 3 times after the pact goes into effect.

The ministry will also continue speeding up its negotiationsof the Indonesia-Bangladesh Preferential Trade Agreement (IB-PTA) as well as the country's bilateral trade agreements with Tunisia, Turkey, Iran, and the EU.

Earlier, in December 2021, the country's Coordinating Minister forEconomic Affairs also urged the Indonesian House of Representatives to soonratify a number of bilateral and multilateral trade agreements, including theRegional Comprehensive Economic Agreement (RCEP) and a free trade deal with theRepublic of Korea./.

VNA

#Indonesia #trade agreements #UAE #CEPA #Muhammad Lutfi #vietnam news agency #vietnamplus

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