Indonesia And The European Free Trade Association (EFTA) To Start Negotiations

(EFTA) the resumption of negotiations on the comprehensive economic partnership agreement (CEPA) will start in 2005, and in May 2014 the negotiations were interrupted because of the Indonesian presidential election.

EFTA includes Iceland, Liechtenstein, Norway and Switzerland.

EFTA chief speaker said that due to the friendly business of the new Indonesian government, negotiations between the two sides could be reached in the near future.

Indonesia is taking effective measures to attract foreign investment and carry out a series of institutional reforms such as reducing administrative procedures and improving investment environment.

Indonesia's efforts to attract foreign investment can provide the kinetic energy needed for economic growth.

TomasLembong, Minister of trade, has said that it has completed the economic partnership agreement with its main trading partners and has accelerated the promotion of RCEP consultation and participation in the next round of TPP consultations for its key administration.

Indonesia and Australia, the European Union, South Korea and EFTA have the priority to push forward the bilateral structure. In the part of regional economic integration, RCEP is the target that Indonesia strongly leads and promotes the completion of negotiations in 2016. On the other hand, in terms of TPP, Indonesia is concentrating its resources on the feasibility analysis of the pros and cons in view of the general objection of domestic enterprises and think tanks, and tries to persuade organs and groups with more specific and specific economic figures and policy objectives.

Indonesian prime minister said that in the case of both sides taking a pragmatic attitude, it is estimated that four more.

Negotiations should be completed and is expected to be completed in early 2017. At present, the main topics are agricultural and non-agricultural market entry.

The merchandise trade between the two sides reached 2 billion 300 million US dollars in 2015, which is 4 times more than that in 2004. EFTA exported 737 million US dollars to Indonesia, and the products were mainly machinery and medicine. Indonesia exported 1 billion 500 million dollars to EFTA, whose products were mainly gemstones, metals, footwear, electronics and so on.

In response to business groups, the Indonesian chamber of Commerce and industry (KADIN) said that the agreement could serve as a model for Indonesia to sign free trade agreements with foreign countries, especially for the Indonesian EU comprehensive economic partnership agreement. Indonesia has made this agreement a priority.

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