Monday, 16 September 2019 | 15:30 WIB

Indonesia Accelerates Bilateral Trade Agreements to Boost Exports

Indonesia Minister of Trade Enggartiasto Lukita (kemendag)

JAKARTA, NETRALNEWS.COM - Indonesia Minister of Trade Enggartiasto Lukita targets several trade agreements or economic cooperation with several partner countries to be resolved this year even though they are only limited to the principle first.

This is important to do so that the export performance does not continue to decline. Without the commitment of cooperation between Indonesia and new trading partners, Indonesia has the potential to find it difficult to encourage export growth amid global economic challenges and trade wars that still occur.

Enggar said that this year the government had successfully signed a commitment to economic cooperation with the Australia-Australia Australia Comprehensive Economic Partnership Agreement (IA-CEPA). Henceforth, the Ministry of Industry will strive to accelerate the ratification of this free trade agreement so that trade and investment cooperation between the two countries will increase.

After the IA-CEPA, Enggar said he would also speed up other economic cooperation agreements with other countries. One that has just been signed as an introductory document is the exchange of the instrument of Ratification (IoR) of the Indonesia-Chile Comprehensive Economic Partnership Agreement (IC-CEPA).

"Actually, with African countries (like) Mozambique waiting (the signing of cooperation documents), I hope this year can be finished. Earlier the Tunisian ambassador also whispered we were just waiting for finalized signing, if with Australia there was a ratification process," Enggar said.

The Nasdem Party politician also emphasized that he would continue to oversee the process of cooperation agreements for the Regional Comprehensive Economic Partnership (RCEP). According to him, if Indonesia can accelerate lobbying and the signing of documents on economic and investment cooperation, Indonesia has the potential to grow its economy higher. The same goes for the economic cooperation process by reactivating the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA).

"We should be able to finish this year at least substancy concluded. RCEP is the biggest (export market share) because almost 50 percent of the world's population is here, we hope that RCEP can be completed substantially this November," concluded Enggar.