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

Indonesia looks to boosting exports to Latin American markets through IC-CEPA

  • Rachmadea Aisyah

    The Jakarta Post

PREMIUM
Jakarta   /   Tue, August 6, 2019   /  06:13 pm
The Jakarta Post Image
Indonesian and Chilean delegates participate in the second round of negotiations on the Indonesia-Chile Comprehensive Economic Partnership Agreement (CEPA) on March 13, 2017, in Jakarta.(Courtesy of/Trade Ministry)

  The government is urging exporters to explore other markets to expand their business and benefit from the Indonesia-Chile Comprehensive Economic Partnership Agreement (IC-CEPA), which enters into force on Aug. 10. The IC-CEPA removes Chile's import tariffs for 7,669 Indonesian products and Indonesia's tariffs for 9,308 Chilean products. The agreement is expected to increase bilateral trade between Indonesia and Chile to US$369.2 million by 2024, from $274.1 million in 2018. Meanwhile, Indonesian exports to Chile are expected to increase by 65 percent to $262.4 million. The Trade Ministry’s bilateral negotiations director, Ni Made Ayu Marthini, said the IC-CEPA was a breakthrough for Indonesia, as the trade agreement was the first that it had ever inked with a Latin American country. “Chile pr...