Indonesia will seek Japan's confirmation regarding the settlement of the Economic Partnership Agreement (EPA) with that country, trade minister Mari Elka Pangestu said on Wednesday.
Indonesia could suffer losses as great as, or even worse, than those that other developing countries have suffered as a result of entering into free trade agreements, such as the proposed Economic Partnership Agreement (EPA) with Japan, says an international NGO.
‘Jamu' or medicinal herb tonic producers in the Southeast Asian (SEA) region are making efforts to standardize their commodities in the face of the advent of the Asean Free Trade Area (AFTA), an Indonesian jamu businessman said.
For Indonesia, the only issue left is about cooperation assistance for increasing its industrial capacity. Japan, meanwhile, is still awaiting the result of the discussion on the country's draft capital investment law before it would sign the EPA.
A potential bilateral Free Trade Agreement (FTA) between the United States and Indonesia is the subject of an upcoming study, “Toward a US-Indonesia Free Trade Agreement”, by Gary Hufbauer and Sjamsu Rahardja. Hufbauer and David Katz of the US Trade Representative discussed the potential economic benefits an FTA would mean for both countries, areas that would need to be addressed to successfully conclude an FTA, as well as political prospects for such an agreement.
"We have finished about 90 percent of the content. But regarding quality, the remaining 10 percent is of much greater significance," Indonesia's chief negotiator Sumadi Brotodiningrat said.
Switzerland and its fellow European Free Trade Association (Efta) members have signed a free trade agreement with Egypt. A statement also announced that Efta ministers had met the Indonesian trade minister with a view to concluding a similar accord.
In an effort to put last year's cartoon controversy behind them, Indonesia and Denmark have reached an agreement on investment promotion and protection.