Seeking Intersection Through the Indonesia-EFTA Negotiation
JAKARTA - Indonesia-EFTA Comprehensive Economic Partnership Agreement (I-E CEPA) held in Jakarta on 10-12 January 2018 has been completed. The important agenda of the meeting is to find the driving force to get the outcome picture of the negotiation between the two parties.
In accordance with President Joko Widodo's instruction, I-E CEPA negotiation is one of the negotiations acceleration which targeted for completion in 2018 to boost exports while attracting investment into Indonesia.
The Indonesian delegation was led by Ambassador Soemadi DM Brotodiningrat, while the EFTA Delegation was led by Ambassador Markus Schlagenhof.
"At the I-E CEPA Intersession negotiations, the two sides seek a balance between demand and supply with trading partners. The negotiated issues at the IEM-CE CE Interlinking Contest, among others, trade in goods, trade in services, terms of origin, customs and trade facilitation," explain Soemadi as reported from pressrelease.id (15/1/2018).
Although it is a traditional market, Indonesia's market share in EFTA countries is still low (0,74%) compared to Thailand (1,57%). "Therefore I-E CEPA is expected to boost Indonesia's exports to Switzerland, Norway, Iceland and Liechtenstein and attract investment," said the Director of Bilateral Negotiation as Indonesian Vice Chairman Made Marthini.
In 2016, EFTA is Indonesia's 15th non-oil export destination and the 19th non-oil and gas imports with a value of USD 2,3 billion and USD 1 billion respectively. In the same year, Indonesia's total trade with EFTA reached USD 3,3 billion with a surplus for Indonesia of USD 1,3 billion. During the last five years (2012-2016) the second economic trend showed an increase of 37,38%.