TheJakartaPost
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The deals were ground out over five days of bargaining at a conference of over 100 trade ministers, and are seen as a test of the ability for nations to strike multilateral trade deals amid high geopolitical tensions. One agreement has already been reached, on maintaining a moratorium on e-commerce tariffs.
At least eight shipping containers holding cooking oil and other items were confiscated at Tanjung Perak port on April 28 in Surabaya in East Java after "the ship deceived (authorities) by not listing cooking oil in the export declaration document," the trade ministry said in a statement late on Thursday.
Indonesia's Trade Minister broached the issue of international trade policies that promoted fair e-commerce competition for MSMEs at a meeting of trade ministers ahead of the G20 Summit at the end of this month.
The House of Representatives has approved the bill on IE-CEPA, an economic agreement that would give Indonesia greater access to investment, help small and medium enterprises (SMEs) connect to global value chains and increase overall exports.
“Such a decision would be detrimental to our trade relations and can cause effects that we do not want to see,” Chinese Ambassador to Indonesia Xiao Qian told the press in Jakarta on Tuesday.
