Jakarta (ANTARA News) – The government is pushing for the conclusion of three negotiations in the Comprehensive Economic Partnership Agreement (CEPA) here to be the basis to boost the countrys exports and economic growth.
Trade Minister Enggartiasto Lukita said the three negotiations are Indonesia-Chile CEPA (IC-CEPA), Indonesia-European Free Trade Association/EFTA CEPA (IE-CEPA), and Indonesia-Australia CEPA (IA-CEPA).
“Of 16 negotiations and three reviews to be concluded, three are to be reached this year,” Meanwhile, 10-13 other agreement are to be reached next year,” Enggartiasto said via telephone on Wednesday.
The minister said export is to be one of the main drivers of the countrys economic growth . In the third quarter of 2017, the countrys economy grew 5.06 percent in which exports were one of the driving motors.
The highest growth rate year-on-year was recorded in the exports of goods and services that grew 17.27 percent contributing 20.50 percent to the countrys GDP.
The main export destination for Indonesian commodities are China, the United States, Japan, India, and Singapore.
“The economic growth would expand when exports increase. The conclusion of the negotiations would open new markets to increase exports,” Enggartiasto said.
Negotiations between Indonesia and Chile in the 6th session of IC-CEPA is taking place from Nov. 6 to 10 2017. Indonesia and Chile agree that IC-CEPA will begin by phases first with trade in goods to be followed with agreement in investment , service or other depending on conditions.
Bilateral trade between Indonesia and Chile in five year period of 2012-2016 dropped 12.09 percent. In the period of January-August 2017 trade between the two countries grew 27 percent to US$201.31 million from US$158.36 million in the same period in the previous year.
Meanwhile, the 13th round of negotiations between Indonesia and EFTA (IE-CEPA) is from Nov. 7 to 10 , 2017. The IE-CEPA negotiation is a full negotiation , meaning service trade and investment also become issues to be negotiated.
Main issues that still need further discussion are market access for goods and service trade and investment. In addition, EFTA also show strong interest in intellectual property protection. Indonesia will push for issue of access of workers and cooperation.
Meanwhile, the IA-CEPA negotiations will be held from Nov. 13 to 17 , 2017 . The 10th round of talks would be the last round as it would be closed by the heads of state who met in February, 2017.
Total bilateral trade between Indonesia and Australia reached US$8.5 billion in 2016. Exports by Indonesia were valued at US$3.2 billion and imports worth US$5.3 billion or a deficit of US$2.1 billion for Indonesia.(*)
Article source: http://www.antaranews.com/en/news/113409/indonesia-to-push-for-conclusion-of-three-bilateral-negotiations