Trade Minister: IEU-CEPA Progress Reaches 90%

Minister of Trade delivers a statement in a press conference, accompanied by Minister of Finance and Minister of Industry after the Internal Meeting at the Presidential Palace, Tuesday (06/25). (Photo by: PR of Cabinet Secretariat/Seno)

The Government has made significant progress with Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), IEU-Eurasia, and Indonesia-Bangladesh trade agreements, according to Minister of Trade Zulkifli Hasan.

“We had a meeting about IEU-CEPA, IEU-Eurasia and the trade agreement with Bangladesh,” the Minister said after attending the Internal Meeting to Accelerate Completion of IEU-CEPA Negotiation, at the Presidential Palace, Tuesday (06/25).

The Minister said that the progress of the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) has reached 90 percent.

The Minister went on to say that IEU-Eurasia that covers Indonesia’s economic relations with countries in the Eurasian region would also be completed soon.

Regarding Indonesia-Bangladesh trade cooperation, Zulkifli said that Indonesia had a trade surplus of almost USD2 billion, especially in terms of coal and CPO.

In the meantime, the Minister responded the issues of declining textile industry, adding that he paid attention to concerns from textile industry players, including on serious challenges such as factory closures and threats of mass layoffs.

“We had a meeting with Minister of Industry regarding the issue, and there was a recommendation to reinstate Regulation of Minister of Trade Number 8,” the Minister said.

The Minister further said that import duty and anti-dumping duty will be implemented to protect domestic textile product, apparel, electronics, footwear, ceramics and bags.

“This afternoon I will have a meeting with the Minister of Finance to formulate the policy. We hope that in the next three days the policy of import duty and anti-dumping duty will be completed,” he remarked. (FID/ABD) (RI/MMB)