Indonesia to prepare FTA deal with Egypt

Viva News | 13 January 2010

Indonesia to Prepare FTA Deal with Egypt

Mari expected that the Egypt FTA will boost investment for both countries.

Hadi Suprapto, Elly Setyo Rini

VIVAnews — The governments of Indonesia and Egypt agreed to start talks on possible free trade agreement in no time, according to Trade Minister Mari Elka Pangestu on Wednesday, Jan 13.

"Based on the meeting, there was a deal to set up foundation on a bilateral agreement with Egypt," said Mari.

Director General of International Trading Partnership at the Ministry of Trade, Gusmardi Bustami, stated the two countries had launched a joint feasibility study on future potential of the Egypt FTA.

Egypt previously teamed up with the United States, Europe, Africa, Central Asia, and Turkey.

Mari said the cooperation with Egypt will lure Indonesia to enter the markets in Arab, Africa, Mediterrania because Egypt is under a FTA deal with the said countries.

In addition to trading, Mari expected that the Egypt FTA will boost investment for both countries such as textile, petrochemicals and glassware.

Translated by: Bonardo Maulana Wahono

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source: VIVA News