Indonesia and Canada will begin negotiations on a comprehensive economic partnership agreement, both countries said on Monday, as the Southeast Asian nation steps up its economic diplomacy under President Joko Widodo.
In a joint statement, they agreed to open talks covering areas including “market access, rules to facilitate trade and investment, and cooperation, taking into account each other’s sensitivities and different levels of development.” The first round will be held “at the earliest opportunity,” they added.
Canada was Indonesia’s 19th-largest trading partner in 2019, according to data from the World Bank, with $2.6 billion worth of trade passing between the two countries.
Indonesia’s Ministry of Trade said Monday’s move represents “a strategic effort to open up opportunities for greater penetration of Indonesian products in North America, considering that Indonesia currently only has one trade agreement in the Americas,” with Chile.
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