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Indonesia, Canada agree to complete ICA-CEPA by late 2024: Minister

ANTARA - 17 November 2023

Indonesia, Canada agree to complete ICA-CEPA by late 2024: Minister

Indonesia and Canada agreed on a target to complete the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) negotiations by the end of 2024 to further increase trade between the two countries, Trade Minister Zulkifli Hasan stated.

Hasan remarked that ICA-CEPA is Indonesia’s first trade agreement with the North American region, which can open access to market and supply chains in the region and increase competitiveness of Indonesian products in the Canadian market.

"Indonesia supports the commitment to accelerate ICA-CEPA negotiations and agrees on a target of completion at the end of 2024. The completion of the ICA-CEPA can increase Indonesia-Canada trade and investment," he noted in a written statement here on Friday.

According to the minister, Indonesia will hold the 7th round of ICA-CEPA negotiations scheduled to take place in March 2024. Earlier, the 6th round of ICA-CEPA negotiations was held virtually on October 23-27, 2023.

In the 6th round, significant progress was recorded in the negotiations of text on customs and trade facilitation, telecommunications services, and business competition. An initial discussion on transparency and cooperation for state-owned enterprises was also conducted.

At a meeting with Canadian Minister of Export Promotion, International Trade and Economic Development Mary Ng, Hasan also discussed the ASEAN-Canada Free Trade Agreement (ACAFTA).

He affirmed that the two countries agreed to encourage the target of concluding the agreement’s negotiations by 2025.

At the meeting, Hasan welcomed Canada’s buying mission to Indonesia that is scheduled to take place next year. A total of 27 Indonesian companies from the processed food and organic food sectors are planning to participate in the buying mission.

The two countries have also explored Canadian products, such as wheat, soybeans, and meat, that can enter the Indonesian market.

"Indonesia has carried out a verification and assessment visit to the overseas halal agency (LHLN) of Canada and is waiting for the results of halal accreditation. If the Halal Certificate Mutual Recognition Agreement has been signed, meat from Canada can enter Indonesia," he explained.

 source: ANTARA