Jakarta (ANTARA) - Indonesia and Chile are providing mutual support for each other's accession to regional trade agreements, according to Indonesia's Trade Minister Budi Santoso.
In a statement issued on Monday, he explained that Indonesia supports Chile’s bid to join the Regional Comprehensive Economic Partnership (RCEP), while Chile backs Indonesia’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
"We hope that Indonesia and Chile’s participation in regional trade cooperation will further improve both countries' economies and contribute to regional economic growth," he said.
During a meeting with Chilean Deputy Trade Minister Claudia Sanhueza in Jeju, South Korea, Indonesia requested Chile’s full support in promptly establishing an Accession Working Group.
This would allow Indonesia to begin negotiations on market access, including trade in goods, services, investment, and government procurement.
According to Santoso, Indonesia is optimistic about its ability to comply with all CPTPP regulations.
He noted that Indonesia’s experience with various progressive trade agreements, including with nine of the 12 CPTPP member countries, reinforces this confidence.
“Indonesia’s membership in the CPTPP can help implement progressive trade policies and boost the volume of export and import trade,” he said.
Santoso and Sanhueza also discussed progress on the Indonesia–Chile Comprehensive Economic Partnership Agreement (IC-CEPA).
Indonesia expressed appreciation to Chile for completing the ratification of the IC-CEPA Trade in Services (TIS) Protocol.
Meanwhile, Indonesia is in the final stages of ratification and remains committed to completing the process soon, while also supporting the start of investment negotiations under the IC-CEPA framework.
The two countries will also conduct a General Review of IC-CEPA after the implementation of the TIS Protocol in 2025.
Santoso added that Indonesia supports ASEAN and Chile’s decision to extend the ASEAN–Chile Practical Cooperation Areas (PCA) until 2026, especially in the areas of the digital economy, sustainable energy, and MSME development.
