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Indonesia, South Korea sign CEPA to boost trade, investment

Dzulfiqar Fathur Rahman      The Jakarta Post Fri, Dec18, 2020

Indonesia and South Korea signed on Friday a comprehensive economic partnership agreement that is expected to boost the trade in goods and services, as well as investment, between the two countries.

   The Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) is seen as representing broader and deeper bilateral cooperation, after both countries participated in the signing of the mega Regional Comprehensive Economic Partnership (RCEP) trade deal on Nov. 15.

     “For Indonesia, concluding the CEPA negotiation with South Korea has long been a priority. South Korea is a strategic partner for Indonesia that offers a lot of potential,” Indonesian Trade Minister Agus Suparmanto said in a virtual press briefing. Agus stated that the IK-CEPA was expected to benefit Indonesia especially through better market access for industrial, agricultural, and  fishery.

Source: The Jakarta Post, Indonesia Fri, Dec18, 2020

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