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Jakarta Post

RI pins hope on RCEP as global trade flounders

  • Rachmadea Aisyah

    The Jakarta Post

Jakarta   /   Thu, June 13 2019   /  01:18 am

The government is hoping a free trade agreement involving 16 Asian countries will be concluded by the end of this year so Indonesia can boost its exports amid a rise in protectionism globally.Talks on the Regional Comprehensive Economic Partnership (RCEP), which comprises all 10 ASEAN member states as well as Australia, China, India, Japan and South Korea, began in 2012. No agreements have so far been made.The 16 countries represent 45 percent of the world’s population, a combined GDP of about US$21.3 trillion and 40 percent of world trade, making the RCEP a highly strategic agreement to its members. Trade Minister Enggartiasto Lukita said he was confident that talks would finally be concluded this November, as external predicaments have increased pressure on RCEP leaders to take action. “The RCEP is the largest agreement we have in our current pipeline [...] and we hope to be able t...