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Jakarta Post

RI-South Korea trade deal sign of things to come

  • Dian Septiari

    Jakarta

Jakarta   /   Tue, October 27 2020   /  01:00 am
Vietnam's Deputy Prime Minister and Foreign Minister Pham Binh Minh chairs a video meeting with foreign ministers from the Association of Southeast Nations ASEAN countries in Hanoi, Vietnam Sept. 9, 2020(Asean Vietnam 2020/Reuters/-)

Indonesia is set to sign a trade agreement with South Korea and seeks ensure that a larger deal at the regional level will also be inked, as the country focuses on increasing overseas market access in the hopes of lifting its economy out of the mire of the pandemic. Foreign Minister Retno Marsudi recently said she would oversee the signing of the Indonesia-South Korea Comprehensive Economic Partnership Agreement (IK-CEPA) in November, a move that confirms the ministry’s increased focus on economic diplomacy. President Joko “Jokowi” Widodo gave the nation’s diplomats a mandate to focus on securing economic gains earlier this year and installed a deputy foreign minister who had extensive experience in senior economic Cabinet positions. The IK-CEPA was agreed upon in November of last year after nearly a decade of back-and-forth negotiations with Seoul. Ta...