The signing of preferential trade agreements with Nepal, Bhutan and Indonesia has been delayed for months as the economy is battling the global COVID-19 fallout, officials have said.
In the middle of a global pandemic Covid-19, Indonesia intensifies the stalled negotiations of the 30th round Negotiations of Regional Comprehensive Economic Partnership (RCEP) held by the virtual, this May.
In spite of the COVID-19 pandemic, the European Commission has revealed that hopes remain high in maintaining their diplomatic and economic ties with Indonesia, geared to fulfill the Commission’s Green Deal.
Australia’s free trade agreement with Indonesia as its biggest neighbour will finally kick into gear on July 5.
It is critical that the EU, which is currently negotiating a free trade agreement with Indonesia, uses these negotiations to ask how Indonesia will protect forests, mitigate climate change and respect community tenure rights.
Besides to the European Union, a schedule of negotiations of trade for the year is also the plan will be reviewed.
Selain Uni Eropa, sejumlah jadwal perundingan dagang untuk tahun ini juga rencananya akan ditinjau ulang.
South Korea and Indonesia agreed to quickly implement it in a way that helps minimize the economic fallout from the new coronavirus pandemic.
The European Union is Malaysia’s third-largest trading partner and is its largest source of foreign direct investment, and Malaysia is a major exporter of raw materials to the European Union. But politics over palm oil threaten their relationship.
The European Union is seeking an explanation for Indonesia’s decision to scrap a highly regarded timber legality verification system, which the bloc uses to ensure it imports only sustainably sourced wood products.
It’s been a year since the signing of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA); the global pandemic could delay the next critical steps.
Mercosur is negotiating with South Korea, Canada and Singapore, while Indonesia and Vietnam are possible candidates. Plus, a deal with the European Free Trade Association is in its final stages.
With new regulatory changes now taking place on the basis of the EU’s Renewable Energy Directive (RED) II of 2018, Indonesia and Malaysia are trying to come to terms with the implications for their global palm oil market strategy and domestic production.
A planned EU-China investment agreement looks unlikely to be struck by September as planned because of the coronavirus outbreak, European Union trade chief Phil Hogan said.
The economic importance of IA-CEPA remains to be seen, at least from Indonesia’s side. IA-CEPA would require many changes in Indonesian regulations at the ministerial and local levels, which has been very challenging in the past.
The Swiss parliament ratified a Free Trade Agreement between the European Free Trade Association and Indonesia, allegedly without addressing the environmental concerns regarding Indonesian palm oil production.
Indonesia is currently a major perpetrator of human rights abuses against its own minority groups, specifically their LGBTQI community, which makes this partnership questionable in view of Australia’s signature on the UN Human Rights Charter.
Bilateral trade deal sceptics have criticised the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) as more of a strategic public relations document than genuine economic reform.