ASIATODAY.ID, JAKARTA – The Ministry of Trade of the Republic of Indonesia is accelerating the completion of the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA).
Director general of International Trade Negotiations at the Ministry of Trade, Djatmiko Bris Witjaksono, said that both parties are targeting ICA-CEPA to be ratified by the end of 2024. He is optimistic that the agreement can be achieved according to the target and be mutually beneficial even though there are problems that have not been resolved.
“We encourage the Heads of Negotiation Issues to intensify communication and be pragmatic so that all negotiation issues can be resolved,” said Djatmiko in an official statement, quoted Wednesday, June 26 2024.
Meanwhile, the ICA-CEPA negotiations have entered their 8th round which was held in Ottawa, Canada on Monday 24 June 2024. There were 20 negotiation issues and 1 expert discussion on the issue of State-Owned Enterprises (BUMN) which were discussed in the 8th round. In addition, for the first time discussions on the formation of a critical mineral dialogue were held at the 8th round of ICA CEPA negotiations.
According to him, with the assistance of the critical mineral dialogue, it has become a real form of strategic cooperation between Indonesia and Canada as critical mineral producing countries that are influential on the global stage.
“Indonesia proposes a dialogue regarding critical minerals within the ICA-CEPA framework. This proposal is submitted to explore the advantages of the two countries in processing mineral resources and developing new and renewable technologies,” said Djatmiko.
Director of Bilateral Negotiations at the Ministry of Trade, Johni Martha, explained that the two countries hope that a number of negotiating issues can be resolved in the 8th round of IAC CEPA.
A series of negotiation issues include the chapters on Transparency, Anti-Corruption and Responsible Business Behavior; Chapter Temporary Human Movement; and the Customs and Trade Facilitation Chapter.
“We also hope that other negotiation issues can fulfill the commitments contained in the ICA-CEPA Negotiation Acceleration Work Program which was agreed upon by both countries,” said Johni.
Based on data compiled by the Ministry of Trade, Indonesia’s total trade with Canada during the January – April 2024 period reached US$1.1 billion. Indonesia in that period still experienced a deficit, with the value of exports to Canada recorded at US$466 million, and the value of imports from Canada at US$655 million.
Meanwhile, a number of mainstay commodities exported to Canada in 2023 include telephone equipment, production products or waste, natural rubber, accessories and luggage. Meanwhile, Indonesia’s main import commodities from Canada are wheat, fertilizer, soybeans and sawdust. (AT Network)
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