Indonesia, Canada discuss expediting completion of comprehensive economic pact

Indonesian Deputy Trade Minister Dyah Roro Esti expressed optimism that the 10th round of the negotiations on the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) will run smoothly and produce a substantial agreement.

The negotiations are taking place in Bandung, West Java, from November 4-10, 2024.

The two nations will continue discussions on the remaining issues such as market access for goods and services, investment, and sustainable development as well as those on critical minerals.

Esti said Indonesia commits to going on with constructive negotiations and appreciates Canada’s flexibility to reach an agreement, laying stress on the significance of both parties’ flexibility and creative solutions to resolving complex issues.

She said the negotiations can deepen bilateral trade and support the economic goals of both nations.

According to data from the Indonesian Trade Ministry, the total trade between Indonesia and Canada was recorded at U.S.$2.4 billion in January-August this year.

During the eight-month span, Indonesia shipped U.S.$935.8 million worth of products to the American country, and spent U.S.$1.46 billion on Canadian imports.

Indonesia’s main export commodities to Canada are telephone equipment, waste and used goods, natural rubber, and travel goods while its major imports include wheat, fertiliser, soybeans and sawdust.