TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

RI, EFTA countries to sign trade deals

  •  

    Reuters

Jakarta   /   Mon, November 26, 2018   /   08:16 am
RI, EFTA countries to sign trade deals Trade Minister Enggartiasto Lukita (JP/Anton Hermansyah)

Indonesia has wrapped up negotiations for a free trade and investment pact with members of the four-nation European Free Trade Association, and a final agreement is due to be signed in December, Indonesia’s trade minister said.

Negotiations on the Comprehensive Indonesia-European Free Trade Association Comprehensive Economic Partnership Agreement (IE-CEPA) between Indonesia and EFTA members — Switzerland, Liechtenstein, Norway and Iceland - have taken seven years.

“This settlement is a milestone for Indonesia’s relations with the four EFTA countries,” Trade Minister Enggartiasto Lukita said in a statement released after Friday’s signing in Geneva, Switzerland.

Indonesia will get better access to export products such as coffee, palm oil, fisheries, textile and furniture, the statement said.

Members of the EFTA will gain access to investment in Indonesia, including in the energy and mining sectors.

The next step is for “legal scrubbing” and translation so the agreement is ready to be signed in Jakarta in December, the statement said.

In 2017, Indonesia-EFTA trade was worth US$2.4 billion, with Indonesia having a trade surplus of $212 million. (brf)