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IA-CEPA contains clauses on bilateral free trade, investments, skills training visas, investor arbitration, e-commerce, and intellectual property protection. [1] Indonesia, under the agreement, will remove tariffs from nearly all Australian products exported to Indonesia while all Indonesian products exported to Australia will be free of tariffs. [2]
Indonesia has bilateral agreements with the following countries and blocs: [1] Australia (Indonesia–Australia Comprehensive Economic Partnership Agreement) Chile (Indonesia–Chile Comprehensive Economic Partnership Agreement) EFTA (Indonesia–EFTA Comprehensive Economic Partnership Agreement) Iran (Indonesia–Iran Preferential Trade Agreement)
The Comprehensive Economic Partnership for East Asia (CEPEA) is a Japanese led proposal for trade co-operation and free trade agreement among the 16 present member countries of the East Asia Summit.
Chile was the first country in Latin America to have a bilateral trade agreement with Indonesia. [ 10 ] In addition to the free trade agreement, both countries had agreed to enter negotiations regarding trade in services , a process expected to begin in the last quarter of 2020.
EFTA: Indonesia–EFTA Comprehensive Economic Partnership Agreement: IECEPA 31 January 2011 16 December 2018 1 November 2021 Iran: Indonesia–Iran Preferential Trade Agreement: IIPTA 23 November 2023 Japan: Indonesia–Japan Economic Partnership Agreement: IJEPA 20 August 2007 20 August 2007 1 July 2008
Despite the positive trend, the EU's share of Indonesia's trade with main partners diminished, from 9.2% in 2010 to 8.7% in 2011 and to 8,1% in 2012. [1] Even at a record high of EUR 25 billion, overall Indonesia–EU bilateral trade is well below some of the other neighbours in the region, even though Indonesia is the largest economy in ASEAN.
For the EU, Indonesia is the 24th largest import source (share 0.9%) and the 30th largest export destination (share 0.6%). Inside the ASEAN-region, Indonesia ranks fourth in terms of total trade. The EU is Indonesia's 4th largest trading partner after Japan, China and Singapore, representing almost
[2] [7] The South Korean National Assembly ratified the agreement on 29 June 2021, [4] while Indonesia's People's Representative Council ratified the agreement on 30 August 2022, together with the Regional Comprehensive Economic Partnership. [1] It was officially implemented on 1 January 2023, coinciding with the 50th year of bilateral ...