Indonesia, Canada resolve all ICA-CEPA negotiation issues

Jakarta (ANTARA) - The Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) negotiations concluded with the Indonesian and Canadian teams completing the texts of all negotiation issues.

Djatmiko Bris Witjaksono, director general of international trade negotiations at the Indonesian Ministry of Trade, said that the completion of all the negotiating issue texts marks this round as an important milestone in the negotiations.

In a statement released by his office on Monday, he said that the completed texts include trade in goods and services, investment, small and medium enterprises, government procurement of goods and services, intellectual property, and sustainable development.

"All negotiating issues have been agreed upon by both parties," he added.

The two countries have been negotiating intensively since 2022. The 10th round of negotiations in 2024 marked a significant milestone with substantial progress, he observed.

"The 10th round of negotiations on the Indonesia-Canada CEPA reflects the spirit of strong collaboration between the two countries," he added.

In the same statement, the Associate Assistant Deputy Minister for Global Affairs of Canada, Aaron Fowler, who is also heading the Canadian delegation, said that the commitment of both countries during the negotiations proves that a comprehensive trade agreement is needed.

"This will strengthen the established bilateral economic relations between Indonesia and Canada. This joint effort is expected to bring great benefits to both countries in the future," he added.

The 10th round of the ICA-CEPA negotiations took place from November 4 to 8 in Bandung, West Java.

In the next step, Indonesia and Canada will resolve several negotiation issues that require further technical arrangements.

The substantive completion of the Indonesia-Canada CEPA is planned to be announced by the heads of state of Indonesia and Canada at the Asia-Pacific Economic Cooperation (APEC) Summit on November 15.

The trade ministers of the two countries will follow up on the announcement by signing the Joint Ministerial Statement on the Conclusion of the Indonesia-Canada CEPA.

The signing is scheduled to take place during the Canadian Government Trade Mission to Jakarta on December 2.

The Indonesia-Canada CEPA offers benefits, including increased market access for trade in goods and services to the North American region; increasing the potential for Canadian investment in Indonesia; and opening up opportunities for broader economic cooperation between the two countries.

These opportunities are especially intended for the critical minerals sector, health standards, and product safety.