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Jakarta Post

It's a wrap: Indonesia, South Korea announce completion of CEPA negotiations

  • Dian Septiari
    Dian Septiari

    The Jakarta Post

Jakarta   /   Mon, November 25, 2019   /  07:46 pm
The Jakarta Post Image
Trade Minister Enggartiasto Lukita (right) shakes hands with Korean Trade Minister Hyun Chong-kim following the announcement of the IK-CEPA negotiation relaunch in Jakarta in February.(JP/Rachmadea Aisyah)

Indonesia and South Korea have concluded the negotiations of the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA), which were reactivated in February, making it the fastest trade agreement Indonesia has made. Indonesian Trade Minister Agus Suparmanto and his South Korean counterpart Yoo Myung-hee issued the joint declaration on the conclusion of the IK-CEPA negotiations on Monday in Busan, South Korea. The declaration took place on the sidelines of the ASEAN-Korea Commemorative Summit and was witnessed by President Joko “Jokowi” Widodo and his South Korean counterpart Moon Jae-in. "I hope that this document will be signed in early 2020. The IK-CEPA is a symbol of the commitment of the two countries to economic openness," Jokowi said in a statement on Monday. "In the midst of the difficult situation like this [in the global economy...