Government encouraging the accelerated of EU-CEPA, RCEP, IA-CEPA

16

Photo by Foreign Ministry

JAKARTA (TheInsiderStories) – Indonesia government is encouraging the acceleration of the process of negotiations Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), said foreign minister in a written statement.

In the meeting of the Joint Committee Indonesia-European Union in Brussels, Belgium, the minister Retno Marsudi stressed the importance of accelerating the process of negotiations  to open wider opportunities for increased trade and investment also development between the two parties.

“In the midst of global uncertainty, progress in the relationship between Indonesia and the EU is a strong foundation for enhancing well-being for more than 750 million people of Indonesia and the EU”, said the minister.

Foreign Minister noted that in 2016 many steps forward have been achieved in the Indonesia-EU ties, such as the lifting of three Indonesian airlines (Batik Air, Citilink, Lion Air) of the no-fly list UE, the commencement of a comprehensive negotiated transfers IEU-CEPA and the launch of License FLEGT (Forest Law Enforcement, Governance and Trade) as a green belt for the export of Indonesian timber products to the EU.

Since the signing of CEPA IEU scoping paper in April 2016, the first IEU-CEPA negotiations have been conducted with agreed architectural talks, such as formatting Working Group and the Sub-Working Group, in the round of CEPA negotiations.

“Indonesia welcomes second round of negotiations that will discuss the substance of IEU CEPA in early 2017 in Indonesia. We expect the meeting of the joint committee will be able to identify new cooperation area Indonesia – EU bilateral, regional and multilateral”, said the Foreign Minister.

Since the signing of EU-CEPA in April 2016, the first negotiations IEU-CEPA negotiations have agreed architecture like format Working Group and the Sub-Working Group in the round of CEPA negotiations.

In 2015, the EU is the fourth largest investor in Indonesia with total investment of US$2.26 billion with a total of 1,437 projects were executed. EU is also the largest trading partner of Indonesia with a trade value reached $26.14 billion at the same year.

Previously, Trade Minister Enggartiasto Lukita said, the government also will speed up the process of trade negotiations, namely the Regional Comprehensive Economic Partnership (RCEP) and the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

He explained, beginning this December, the discussion of the two commercial agreements that will continue. According to him, Indonesia became one of the focal point in the economic cooperation in the world. Hence, the opportunity negotiating new trade cooperation should be used and followed up intensely.

Associated with the IA-CEPA, Australian Trade Minister planned to come to Indonesia while as for the RCEP, scheduled to take place a meeting of representatives from each member state on Dec. 5 to 10.

The prestige of RCEP cooperation tends to rise after the elected president of the United States Donald Trump attract US plan of partnership comes Trans-Pacific Partnership (TPP). In fact, some countries volunteered to join the RCEP, such as Chile.

RCEP consisting of 10 members of ASEAN plus Australia, New Zealand, China, India, Korea, and Japan has a large market share.

The post Government encouraging the accelerated of EU-CEPA, RCEP, IA-CEPA appeared first on The Insider Stories.

Source: The Insiderstories
Government encouraging the accelerated of EU-CEPA, RCEP, IA-CEPA

You might also like More from author

Comments are closed, but trackbacks and pingbacks are open.