The free-trade deal appears to be on hold as Indonesia is angry about Australia’s potential move of an embassy to Jerusalem.
Swiss and Norwegians civil society groups addressed their serious concerns over TRIPS-plus provisions being included in the trade agreement under negotiation between the European Free Trade Association (EFTA) and Indonesia.
The government has decided to ratify seven international trade agreements without the approval of the House of Representatives.
In many countries, the implementation of the TRIPS-plus measures has significantly increased the cost of medicines.
The Indonesian government will push ahead and ratify a trade deal with Pakistan to protect $1.5 billion in annual palm oil exports to the South Asia nation, a cabinet minister said.
The two countries plan to ink the agreement on November 14, the second day of the ASEAN summit in Singapore.
Indonesia is expanding trade partnerships with different countries and economic blocs and a free trade agreement (FTA) with Pakistan is a part of the plans, said Indonesia Trade Minister Enggartiasto Lukita.
Businesses in the mining sector and beyond insist protection for Australian investors in Indonesia is required in a free trade deal.
Indonesia and Egypt will sign a preferential trade agreement and are negotiating a free trade agreement.
On 1 November, negotiations on a free trade agreement between EFTA and Indonesia were concluded in substance, with Switzerland acting as lead negotiator. The agreement means 98% of Swiss goods will be exempt from customs duties in medium term.
The five countries are expected to announce the completion of the negotiation in a ministerial meeting in Geneva, Switzerland on Nov. 23.
Indonesia is currently proposing to have a Comprehensive Economic Partnership Agreement (CEPA) with the GCC countries
Indonesian Civil Society, urge the Government not to ratify the recently signed Bilateral Investment Treaty (BIT) with Singapore said it will threatens the state’s sovereignty. Besides signing the BIT, Indonesia-Singapore also signed MoU on Investment Cooperation for sectors such as Industry 4.0, tourism, financial technology, and education.
Indonesia could delay signing a planned free trade deal with Australia if Prime Minister Scott Morrison formally recognises Jerusalem as Israel’s capital, political analysts suggest, as the move would provoke deep anger in the lead up to the Muslim nation’s presidential election.
The free trade agreement between Australia and Indonesia is in peril after Labor said it would not ratify the deal, or any other FTA in the pipeline, unless provisions allowing the importation of foreign workers and the ability of foreign governments to sue, were stripped out.
Singapore and Indonesia signed an agreement to promote and protect investments, with the treaty promising Singapore companies operating in Indonesia protection and access to international arbitration in the event of investment disputes.
The Swiss Senate has narrowly voted against proposals to exclude palm from any free trade agreement with Malaysia and Indonesia.
The chief negotiator of Indonesia sits on the board of directors of the Indonesian company Astra Agro Lestari, one of the country’s largest palm oil producers.
L’Indonésie n’exige plus l’abolition de droits de douane à l’importation de son huile de palme, produit contesté en Suisse, et accepte des règles strictes en matière de propriété intellectuelle.
Representatives from the Civil Society Coalition for Economic Justice held a meeting with an Indonesian Trade Official and discussed the development of information on the RCEP and Indonesia EU CEPA negotiating rounds.