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New Round of Bilateral Relations: Indonesia-EFTA Signs Comprehensive Economic Partnership Agreement
Publish date: 14 Jan 2019, Author : fpesbsi

PRESS RELEASE Public Relations Bureau Gd. I Lt. 2, Jl. M.I. Ridwan Rais No. 5, Jakarta 10110 Tel: 021-3860371 / Fax: 021-3508711 www.kemendag.go.id

Today marks the start of a new milestone in Indonesia"s bilateral relations with four countries incorporated in the European Free Trade Association (EFTA), namely Switzerland, Liechtenstein, Iceland and Norway; with the signing of the Indonesia-EFTA Comprehensive Economic Partnership Agreement (IE-CEPA). The signing of the text of the IE-CEPA agreement was carried out by the Indonesian Minister of Trade Enggartiasto Lukita; Federal Counselor and Head of the Federal Department of Economic Affairs, Education and Research, Johann N. Schneider-Ammann; Minister of Foreign Affairs, Justice and Culture of Liechtenstein, Aurelia Frick; State Secretary / Deputy Trade Minister, Kingdom of Norway, Daniel Bjarmann-Simonsen; and the Icelandic Ambassador and Chief of Protocol, Hannes Heimisson; at the office of the Ministry of Commerce, Jakarta, today, Sunday (16/12). IE-CEPA negotiations lasted almost eight years before finally being declared substantially completed by negotiators at a meeting in Bali on 29 October-1 November 2018, and the final declared by the Ministers on 23 November 2018 in Geneva, Switzerland. "I am grateful that after signing the Chile-Indonesia CEPA in December 2017 in Santiago, Chile; again this year Indonesia signed another important agreement to encourage economic partnerships with friendly countries from the European region. Indonesia believes that the Comprehensive Economic Partnership Agreement between Indonesia and "This EFTA will bring the Indonesian economy stronger, more competitive and attractive to investors from developed countries, EFTA members," explained Minister of Trade Enggar

The signing of this agreement took place amid the weakening of world trade and continued uncertainty in trade between countries in 2019 and subsequent years. In the midst of this situation, the five signatory countries gave a positive signal to the world that friendly economic relations through a preference agreement remained the best choice to encourage economic growth. The IE-CEPA agreement covers issues of goods trade, service trade, investment, intellectual property rights, sustainable development, origin and customs provisions, trade facilitation, trade security, business competition, legal, and cooperation and capacity building.

EFTA CEPA Signer (fhoto Tribun News com)

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