The Minister of Trade of the Republic of Indonesia, Mr. Budi Santoso, and the Minister of Export Promotion, International Trade and Economic Development of Canada, Ms. Mary Ng, are pleased to jointly announce today, December 2, 2024, that the Government of the Republic of Indonesia (hereafter “Indonesia”) and the Government of Canada (hereinafter “Canada”) have concluded the bilateral trade negotiations for the Indonesia–Canada Comprehensive Economic Partnership Agreement (“the CEPA”).
The CEPA negotiations were launched in June 2021. Following ten rounds of negotiations, Prime Minister Trudeau and President Prabowo announced substantive conclusion of negotiations on November 15, 2024. Remaining issues including with respect to market access have now been finalized. With the objective of bringing the CEPA into force as soon as possible, we commit to sign the Agreement in 2025.
The negotiations have resulted in a comprehensive trade agreement that addresses rules and market access for goods, services, investment, financial services, and temporary movement of natural persons and includes provisions on intellectual property rights, good regulatory practices, e-commerce, competition, government procurement, small and medium-sized enterprises, women’s economic empowerment, environment, and labour. The negotiated CEPA will also include commitments to cooperate on critical minerals and sanitary and phytosanitary measures. Canada has committed to provide a technical assistance and capacity building package to facilitate implementation of the CEPA.
The CEPA represents a significant milestone in our longstanding bilateral relationship underpinned by a shared commitment to rules-based trade, open markets, and inclusive economic growth. In particular, the CEPA will serve as a strong platform to further strengthen economic relations through enhanced bilateral trade and investment.
Source: Government of Canada
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