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View all search resultsRI, Canada ink trade pact amid US pressure
The CEPA, set to take effect in 2026, is expected to create a more predictable environment for investment in critical sectors such as clean technology, critical minerals and financial services.
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President Prabowo Subianto gets off the presidential plane on April 15 after landing at the Halim Perdanakusuma Air Force Base in Jakarta following his foreign visits to five Middle Eastern countries to discuss various issues with their respective leaders. (Antara/Galih Pradipta)
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ndonesia and Canada signed a landmark trade deal during President Prabowo Subianto’s state visit to Ottawa on Wednesday, marking Canada’s first-ever trade agreement with an ASEAN nation.
Canadian Prime Minister Mark Carney hailed the Canada-Indonesia Comprehensive Economic Partnership Agreement (CEPA) as a “game-changing” pact that will fundamentally reshape trade between the two nations.
The CEPA, set to take effect in 2026, is expected to create a more predictable environment for investment in critical sectors such as clean technology, critical minerals and financial services.
The agreement is also projected to eliminate or drastically reduce tariffs on more than 95 percent of Canadian exports, making key commodities like wheat, potash and agri-food products far more competitive in Indonesia’s vast market.
“In this new era, our partners will no longer rely only on the strength of our values but also the value of our strength,” Carney said in a statement issued on Wednesday.
At the same time, Canada welcomed Indonesia’s support for the Canada-ASEAN Free Trade Agreement as well as its interest in acceding to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Organisation for Economic Co-operation and Development (OECD).
“The global trade landscape is rapidly changing as the United States fundamentally transforms all of its trading relationships […] We are building our strength at home, diversifying our partnerships abroad and creating a web of new connections to pursue our interests,” Carney added.
