Agreement paves way for Indonesian exports to South America

Trade Minister Enggartiasto Lukita has said the Indonesia-Chile Comprehensive Economic Partnership Agreement (IC-CEPA) will pave the way for the export of Indonesian products to South America.

“The CEPA is a win-win solution for the two nations in promoting the welfare of their people, and the cooperation will make Chile a hub for Indonesia to enter the Latin American market, and Indonesia a hub for Chile to enter the Asian market,” he said here on Tuesday.

The cooperation is a good opportunity, both for businesspeople and media to encourage the two countries to expand business opportunities, he said.

“I hope the two countries can hold a business forum and business matching every year,” he added.

Among the Indonesian products which received preference in the agreement are palm oil and its derivatives, paper and pulp, food and beverages, automotive products, footwear, furniture, jewelry, and textile products.

After the implementation of IC-CEPA, both countries agreed to continue the next round of negotiations in the fields of trade, service and investment.

Trade between the two countries reached US$274 million in 2018.

Just in the first quarter of 2019, the figure reached US$56.1 million, made up of US$34.9 million in Indonesian exports to Chile, and US$21.2 million worth of Chilean exports to Indonesia.

Source: Antara News