Indonesia has finalised the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA), marking its first CEPA with North America, announced the country's Trade Ministry on August 5.
The ministry's Director General of International Trade Negotiations, Djatmiko Bris Witjaksono, remarked that through fast-moving negotiations, it was wrapped in two years.
Negotiations for the ICA-CEPA concluded in December 2024, and the agreement is expected to be signed in September or October this year.
Witjaksono stated that the ICA-CEPA will be Indonesia's first CEPA with the North American region. It is expected to boost access for Indonesian products.
He noted that both countries have signed a Joint Statement on the Completion of the ICA-CEPA, which is projected to broaden market opportunities for Indonesian products in North America.
The signing was conducted by Indonesian Trade Minister Budi Santoso and Canadian Minister of Export Promotion, International Trade, and Economic Development Mary Ng.
In addition, Indonesia had finalised the Indonesia–European Union Comprehensive Economic Partnership Agreement (IEU-CEPA). Under the deal, around 80% of tariff lines will be eliminated, offering broader trade and investment opportunities for both parties.
The completion of IEU-CEPA negotiations was officially announced during a bilateral meeting between Indonesian President Prabowo Subianto and European Commission President Ursula von der Leyen in Brussels./
