Hope RI-Canada CEPA can boost N America market access: minister

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Jakarta (ANTARA) - Trade Minister Budi Santoso has expressed the hope that the Indonesia–Canada Comprehensive Economic Partnership Agreement (CEPA) would increase access to the North American market for Indonesia's trade goods and services. "Indonesia–Canada CEPA is expected to increase market access for Indonesian goods and services trade in the North American region, increase Canada's investment in Indonesia," he said in a statement released on Friday.

"It will also open up opportunities for broader economic cooperation between the two countries," he added.

During a bilateral meeting in Lima, Peru, on Thursday, Santoso and Minister of Export Promotion, International Trade, and Economic Development of Canada, Mary Ng, discussed the implementation of a Canadian trade mission to Indonesia in December 2024.

The trade mission will bring more than 300 entrepreneurs.

Santoso welcomed the trade mission and expressed the hope that it would be successful and provide benefits for both parties.

"I hope that the trade mission can introduce Indonesia's trade and investment potential to Canadian business players, while also providing opportunities for Indonesian business players to build networks and create new cooperation opportunities with Canadian partners," he said.

The two ministers are also scheduled to sign a Joint Ministerial Statement on Substantive Completion of Indonesia-Canada CEPA Negotiations during the Canadian trade mission.

During the meeting in Lima, Santoso also invited Canada to invest in Indonesia's education sector and hospitals, especially in special economic zones.

Indonesia and Canada have reached substantive agreements on 23 negotiation issues, including trade in goods, services, investment, rules of origin, government procurement of goods and services, and sustainable development and trade.

In addition, a new issue was also agreed upon, namely bilateral dialogue on priority sectors, which can serve as a forum for discussion and cooperation on the two countries' priority issues, including critical minerals and health protection (sanitary and phytosanitary) for trade in beef and bird's nests.

Indonesia and Canada carried out the 10th round of negotiations on the Indonesia–Canada CEPA in Bandung, West Java, from November 4–8, 2024.

Related news: Indonesia, Canada resolve all ICA-CEPA negotiation issues Related news: RI, Canada discuss expediting completion of ICA-CEPA trade agreement Related news: Expect substantial agreement from ICA-CEPA talks: trade ministry

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Hope RI-Canada CEPA can boost N America market access: minister

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