Author: admingentala

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Vietnam’s Xanh SM Electric Taxi Supports Eco-Friendly Tourism in Indonesia

Vietnamese electric mobility service provider, Xanh SM, is present in Jakarta to answer the need for environmentally friendly transportation. Xanh SM offers a pollution-free travel experience in Indonesia with a fleet of sophisticated electric vehicles. Global GSM CEO, Nguyen Van Thanh stated that the growth of environmentally friendly tourism shows a significant change that can be seen in people’s mobility when traveling. According to him, tourists, including in Indonesia, are starting to look for alternative environmentally friendly transportation to travel.

“People want transportation that is in line with increasing environmental awareness. In the midst of this trend, electric taxis are the main choice with vehicles that are quiet, emission-free, and have sophisticated technology,” he said as quoted on Friday (12/27/2024).

Thanh said that for tourists, transportation is more than just a means to get to a destination. The noise of conventional vehicle engines and the smell of fuel often reduce comfort, especially in quiet tourist locations.

“On the other hand, electric taxis move with minimal noise and odor, maintaining the tranquility and beauty of the surrounding environment. He emphasized that the VinFast Limogreen fleet from Xanh SM which was recently launched in Jakarta is able to create a comfortable atmosphere that allows passengers to fully enjoy their journey and the environment around them.” he said.

Furthermore, Thanh explained that the company’s philosophy is reflected in the “5 Green Promises” which include a commitment to premium services. Among them are impressive experiences, professional drivers, high-quality vehicles, affordable prices, and a commitment to environmental sustainability.

“These principles are not just idealism, but also real features of the service. Starting from clean and odor-free trips to safety measures implemented through rigorous driver training and a sophisticated management system. Xanh SM sets a new standard for environmentally friendly urban mobility. Xanh SM’s mission is in line with Indonesia’s sustainability target, which is to achieve zero emissions by 2060. We are fully committed to leading the electrification of global transportation to support the achievement of this goal,” he explained.

According to him, Xanh SM in Jakarta is a step towards a greener and more sustainable urban mobility transformation. With a growing electric fleet network, Jakarta shows its commitment as an environmentally friendly city.

Deputy for Investment Climate Development Riyatno also appreciated Xanh SM in providing environmentally friendly vehicles. “Green services such as Xanh SM play an important role in reducing emissions, improving air quality and supporting the goal of a low-carbon sustainable economy while driving economic and environmental progress,” he said.

December 27, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/news/20241227172725-4-599133/taksi-listrik-xanh-sm-dukung-pariwisata-ramah-lingkungan-di-ri)

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Indonesia Exports Thousands of Tons of Fish to US-Australia

The Ministry of Marine Affairs and Fisheries (KKP) continues to export fish during the Christmas and New Year holidays. The Marine and Fisheries Product Quality Control and Supervision Agency in Denpasar, Bali, during the period of December 20-25, 2024, successfully delivered 1,035 tons of fishery products to the global market. Head of the KKP Quality Agency Ishartini said that thousands of fishery products were sent to the United States, China, Taiwan, and Australia.

“In those five days, we have issued 167 Health Certificates (HC) so that business actors can still export during the Christmas period,” he said in an official KKP broadcast, quoted Friday (12/27/2024).

In order to ensure the acceptance of fishery products in the destination country for export, Ishartini ensured that as of January 1, 2025, the KKP Quality Agency as quality assurance will implement the format of the Fishery Product Quality and Safety Certificate or SMKHP. The certificate is in accordance with Permenkp Number 33 of 2024 concerning the Export of Fishery Products from the Territorial Area of ​​Indonesia

“As of January 1, SMKHP has been in effect and we have coordinated with various export destination countries, this is proof of the quality assurance of Indonesian products,” explained Ishartini.

For information, the Quality Inspector of the KKP Quality Agency is also alert in supervising the quality and safety of fishery products traded in the domestic market, through sampling and Organoleptic testing and formalin testing. This is to ensure that the quality of Indonesian fishery products can be accepted globally.

December 27, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7705433/jelang-pergantian-tahun-ri-ekspor-ribuan-ton-ikan-ke-as-australia)

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Indonesia Officially Becomes BRICS Partner

Indonesia is one of 9 countries approved to join as a partner of the BRICS economic bloc, which stands for Brazil, Russia, India, China, and South Africa. This was conveyed by the Spokesperson of the Chinese Ministry of Foreign Affairs, Mao Ning in a press conference in Beijing on Tuesday (24/12). Mao Ning said at the 16th BRICS Summit in Kazan, Russia, the leaders of the BRICS countries had reached an important consensus regarding the establishment of a partner country mechanism. This is a milestone for the economic bloc in the development of BRICS after the expansion of membership last year.

“After the summit, China has been actively working with Russia, the BRICS chair country this year, to be able to implement the mechanism with other BRICS countries. The list of BRICS partner countries that were finally approved (to join) includes Indonesia, Malaysia, Thailand, Belarus, Bolivia, Cuba, Kazakhstan, Uzbekistan, and Uganda,” said Mao Ning as quoted from the website of the Embassy of the People’s Republic of China in Gambia, Friday (27/12/2024).

With the addition of BRICS partner countries, Mao Ning hopes that cooperation between members can be closer and higher. Mao Ning assessed that BRICS has a larger representation. In addition, BRICS has a role to expand solidarity and cooperation between developing countries.

“China is ready to work with BRICS members and other partner countries to follow the spirit of openness, inclusiveness, and mutually beneficial cooperation, expand practical cooperation in various fields. In addition, we are also ready to advance the development of better and high-quality BRICS cooperation and promote the building of a community with a shared future,” added Mao Ning.

Previously, Minister of Foreign Affairs, Sugiono said that Indonesia received support from China to join the international organization. Sugiono said that the support was discussed in a bilateral meeting between President Prabowo Subianto and Chinese President Xi Jinping.

BRICS is a group of developing countries consisting of Brazil, Russia, India, China, and South Africa. This group was formed to strengthen economic, political and cultural cooperation between its member countries, as well as to increase their influence in the global arena. Before Indonesia, there were Malaysia and Thailand who had joined first as BRICS partners.

December 27, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7705684/indonesia-disetujui-bergabung-jadi-mitra-brics)

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Indonesia Secures IDR 120 Trillion Investment Commitment from China

Minister of Investment and Downstream/Head of the Investment Coordinating Board (BKPM) Rosan Perkasa Roeslani continued his meeting with 8 companies during his visit to the People’s Republic of China (PRC) on 18-20 December 2024. The meeting is claimed to have succeeded in recording new investment commitments of US$ 7.46 billion or IDR 120 trillion.

“Several meetings held in Hangzhou, Quzhou and Beijing have succeeded in recording a total new investment commitment of US$ 7.46 billion or equivalent to IDR 120 trillion,” said Rosan in a written statement, Monday (12/23/2024).

Meeting with Geely Auto Group: a meeting at the Geely Auto Group production facility discussed potential investments in the development of the automotive industry in Indonesia. One of the leading global automotive manufacturers is said to have committed to collaborating on the assembly of the electric car industry with Indonesian companies.

Meeting with Zhenshi Holding Group Co Ltd: The second company visited was Zhenshi Holding Group Co Ltd which has invested in several nickel smelting projects, including in North Maluku and Morowali. Its subsidiary, Jushi Group, is one of the largest fiberglass producers in the world. Jushi Group plans to make a new investment of US$ 1 billion (first phase) in the fiberglass industry, with an estimated workforce absorption of 4,500 people.

Meeting with Wankai New Materials (Zhink Group): The third meeting with Wankai New Materials which is part of Zhink Group. The meeting was to discuss investment interest in the petrochemical derivative industry sector. The total investment plan reaches US$ 1 billion which will be carried out in three stages. Zhink Group itself is the 3rd largest PET (Polyethylene Terephthalate) producer in China and the 5th largest in the world.

Meeting with Hongshi Holding Group: The fourth meeting with Hongshi Holding Group which plans to develop an industrial area that will produce silicon, polysilicon (raw material for solar panels), batteries and their components, and a 2 gigawatt Steam Power Plant (PLTU). The plan is that the construction of this new investment worth US$ 5 billion will be carried out in stages.

Meeting with Huayou Holding Group: Huayou’s investment development in Indonesia is said to be quite large with a total of 15 projects and a total of 20,000 employees. Huayou is working with several domestic partners including Antam, MIND ID, Merdeka Battery Materials and Vale Indonesia. Currently, Huayou’s project locations are spread across three main locations, namely Indonesia Morowali Industrial Park, Indonesia Weda Bay Industrial Park, and Indonesia Pomalaa Industry Park. In the future, it will be developed in Sorowako and Buli. Huayou’s total investment in Indonesia is said to have reached US$ 6.3 billion and has succeeded in integrating smelter mining, refining and precursors.

Meeting with CEEC, CITIC and Zhuhai Hongwan Ocean Fisheries: The first meeting with China Energy Engineering Corporation (CEEC) discussed investment potential in the new and renewable energy (EBT) sector, especially related to the utilization of offshore wind resources in Indonesia. The meeting with CITIC discussed potential cooperation in several government programs, including supporting the construction of 3 million houses per year, food security through increasing rice and corn productivity, and energy security through revitalizing oil wells. The meeting with Zhuhai Hongwan Ocean Fisheries, which stated that it would cooperate with local partners to develop investment in the fisheries sector in eastern Indonesia with a total investment of US$ 460 million.

December 23, 2024, detikFinance

(https://finance.detik.com/industri/d-7699270/ri-kantongi-komitmen-investasi-rp-120-t-dari-china-ada-pemilik-volvo)

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Indonesia Tourism Outlook 2025: Challenges Towards 8% GDP Target

Indonesia has set an ambitious economic growth target of 8% in the 2025-2029 period. In an effort to support this vision, the tourism sector is expected to become one of the main pillars. To what extent are the targets and steps currently formulated sufficient to ensure that tourism becomes a significant contributor to national economic growth?

In the draft document of the National Medium-Term Development Plan which is planned to be announced in 2025, the target contribution of the Gross Domestic Product (GDP) of the tourism sector to national GDP will gradually increase, from 4.6% in 2025 to 5% in 2029. On the other hand, the foreign exchange target from this sector is also set at USD 32 billion in 2029. Although it seems realistic, this challenge is still much lower compared to Indonesia’s neighboring countries such as Vietnam, for example, which has set the contribution of tourism to their National GDP to be above 15%, the Philippines 8.6%, and Thailand 7.24%. The latest data shows that the number of foreign tourists in Indonesia is at 13 million per year with an average expenditure of USD 1,200 per tourist, generating foreign exchange of around USD 15.6 billion. To reach USD 32 billion in 2029, an increase in visits of up to 20 million foreign tourists per year with an average expenditure of USD 1,600 is needed.

The figure of USD 32 billion in tourism foreign exchange in 2029 shows that this sector must move much more aggressively than its current performance. However, when compared to the foreign exchange needs of the tourism sector to support economic growth of 8%, which is around IDR 3,741 trillion (or around USD 250 billion) over five years, the contribution of tourism based on the target set by the Ministry of Tourism above still seems relatively small. The Main Challenges of Indonesian Tourism are as follows:

1. Recovery after the COVID-19 pandemic: Diversification of tourism products is the key to recovery, especially in increasing global competitiveness while continuing to focus on strengthening the domestic market.

2. Unequal Distribution of Tourists: Bali dominates with 45% of international visits, while Maluku and Papua only receive less than 3% of tourists. This imbalance exacerbates the potential risk of overtourism in Bali and hinders the development of alternative destinations. The government needs to improve infrastructure and promotion in other regions of Indonesia such as Sumatra, Kalimantan, Sulawesi, Maluku, and Papua.

3. Improving the Quality of Tourism Human Resources

As many as 60% of tourism workers have not been trained according to international standards. Lack of foreign language skills, such as Mandarin and English, is an obstacle in serving the global market. Investment in training and certification is an urgent strategic step.

4. Digitalization of Tourist Destinations

Digitalization has only covered 40% of tourism MSMEs, while Bali has reached 75%. Business actors in the regions need to be supported with technology training to improve operational efficiency and access to international markets.

5. Lack of Inter-Regional Connectivity

Only 35% of priority tourism areas have adequate transportation access. Eastern Indonesia, such as Sulawesi, Papua and Maluku, for example, still need improved connectivity to strengthen the development of new destinations.

6. Lack of Tourism Product Diversification

As many as 70% of foreign tourists only visit Bali. Culinary, health and event-based tourism have not been optimally developed. Product innovations such as ecotourism and historical tourism, religious tourism must be strengthened to attract a wider market.

7. Tourist Safety and Comfort

Indonesia is ranked 50th in the world tourism security index. Law enforcement and training of tourism police personnel are crucial steps to provide a sense of security in tourist destinations and reduce the risk of naughty tourists disturbing order.

8. Digital Transformation of MSMEs

Only 40% of MSMEs utilize digital platforms, while 80% of international tourists rely on technology for travel decisions. Digital transformation training needs to be prioritized.

December 23, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/opini/20241223070226-14-598032/outlook-pariwisata-indonesia-2025-25-tantangan-menuju-target-pdb-8)

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Indonesia Exports Fish Worth IDR 76.8 Trillion, America and China the Most

The Ministry of Marine Affairs and Fisheries (KKP) reported that the value of fishery exports from January to October 2024 reached US$ 4.8 billion or IDR76.8 trillion (exchange rate of IDR16,000). This value increased compared to the same period last year of US$ 4.61 billion.

The Director General of Strengthening the Competitiveness of Marine and Fishery Products (PDSPKP) of the Ministry of Marine Affairs and Fisheries, Budi Sulistyo, is targeting that by the end of 2024, the value of Indonesian fishery exports will reach US$ 5 billion.

“Regarding the strengthening of the marketing of fishery products that we get in 2024, the performance of Indonesian fishery exports for the period January to October 2024 is currently recorded as of October at US$ 4.81 billion. This (has experienced) an increase in the same period. We hope that by the end of the year, until December, it will reach more than US$ 5 billion,” said Budi in the 2024 KKP Year-End Achievement Press Conference at the Mina Bahari IV Building, Central Jakarta, Monday (16/12/2024).

Furthermore, Budi explained that there are five largest destination countries, including the United States (US) with an export value of US$ 1.56 billion, China with an export value of US$ 0.99 billion, ASEAN with an export value of US$ 0.65 billion, Japan with an export value of US$ 0.49 billion, and the European Union of US$ 0.35 billion. The most exported fishery commodities are shrimp, tuna, skipjack tuna, squid, cuttlefish, octopus, crab, and seaweed.

“Commodities are dominated by shrimp, followed by skipjack tuna, squid, crab and seaweed,” explained Budi.

To boost fisheries exports next year, his party has compiled and analyzed market performance and marketing, especially for skipjack tuna and tilapia commodities. This analysis was conducted to see potential export destination countries. Based on the results of the analysis, the demand for US tuna is predicted to increase by 300 thousand tons with the form of frozen whole superior products. Then in the European Union, the demand for tuna is estimated to reach 889 thousand tons with the form of canned tuna as the superior product.

“Tuna in Japan is positioned (Indonesia as a tuna exporting country in Japan) number 4. While the demand in 2025 is predicted to be 249 thousand tons or an increase of 4%. Well, we should be able to capture the market from this potential increase. So is tilapia. We will convey this kind of information to business actors. This is to improve export performance in the future, and we will always improve our capabilities,” explained Budi.

December 16, 2024, detikFinance

(https://finance.detik.com/berita-ekonomi-bisnis/d-7689116/ri-ekspor-ikan-rp-76-8-t-paling-banyak-ke-as-china)

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Indonesia Partners with Japanese Companies to Boost Geothermal Energy Potential

Indonesia is increasingly serious about developing geothermal energy potential to support national energy independence. In the Indonesia-Japan energy forum in Bali, PLN Indonesia Power collaborated with a Japanese company, INPEX Geothermal, to accelerate the development of this underutilized green energy resource. The agreement is a real step by the government in achieving the energy transition target while reducing dependence on fossil fuels. This collaboration was marked by the signing of a memorandum of understanding between PLN Indonesia Power which was signed directly by the President Director of PLN Indonesia Power Edwin Nugraha Putra and the Director of INPEX Geothermal, Ltd Yasutoshi Seki.

Secretary General of the Ministry of Energy and Mineral Resources Dadan Kusdiana who opened IJEF 2024 and witnessed the signing of the memorandum of understanding between PLN Indonesia Power and INPEX Geothermal said that the New Prabowo-Gibran Government has launched eight main missions called “Asta Cita”, which is designed to achieve the vision of “Together Towards a Golden Indonesia 2045”. One of these missions is energy self-sufficiency.

“Strong bilateral cooperation between Indonesia and Japan in the energy and mineral sector offers a path to a sustainable and resilient energy future. In addition, Indonesia is also trying to achieve energy self-sufficiency by utilizing its abundant natural resources, we collaborate with technological expertise from Japan,” said Dadan in an official statement, Friday (6/12/2024).

Dadan continued, at several international events such as APEC and the G20 Summit, President Prabowo Subianto emphasized the importance of green energy independence, by replacing fossil fuels with renewable energy and the importance of cooperation in the energy transition. Indonesia’s green energy potential is also quite large, such as geothermal energy with a potential of 23 GW, this country has only utilized 11% of its capacity.

“Likewise, although the potential for solar energy exceeds 3,000 GW, its application is still a challenge. We also have hydropower potential, especially in Eastern Indonesia and very large bioenergy potential,” added Dadan.

Meanwhile, on the same occasion, the President Director of PLN Indonesia Power said that as a subholding generation company, PLN Indonesia Power has a major role in developing green energy to accelerate the energy transition and achieve the Net Zero Emission target by 2060. One of the breakthroughs made by the corporation is to collaborate with parties that have competence and experience such as INPEX Geothermal.

“INPEX Geothermal has quite a long experience in developing geothermal energy. With this collaboration, we can further improve our competence in developing geothermal energy,” said Edwin.

Indonesia’s efforts to reduce carbon emissions are also in line with the commitment of the Japanese Government. Deputy Commissioner for International Affairs of the Ministry of Economy, Trade and Industry (METI) Japan Masanori Tsuruda said that Prime Minister Shigeru Ishiba in October 2020 declared Japan’s Efforts to reduce greenhouse gas (GHG) emissions by 46 percent by 2030 and to zero by 2050.

“Japan will continue to strive hard in its challenge to meet the noble goal of reducing global emissions. To achieve the target of zero carbon emissions by 2050, Japan will accelerate the energy transition, reduce the use of fossil fuels and switch to new renewable energy. We will do this through various channels,” said Masanori.

December 6, 2024, detikFinance

(https://finance.detik.com/energi/d-7674582/ri-gandeng-perusahaan-jepang-genjot-potensi-energi-panas-bumi)

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Indonesia and Japan to Cooperate on Transportation Infrastructure

Minister of Transportation Dudy Purwagandhi met with the Japanese Ambassador to Indonesia Yasushi Masaki to discuss the continuation of cooperation between the two countries in the transportation sector. Japan itself has made significant contributions to transportation projects in Indonesia, such as the development of railway systems, human resource development and training programs, and the exchange of knowledge in the field of technology.

Dudy said that the cooperation between the Ministry of Transportation and the Japan Ministry of Land, Infrastructure, Transport and Tourism (MLIT) was strengthened through the signing of a Memorandum of Cooperation (MoC) in the transportation sector on January 19, 2024. He also said that this cooperation has become more intensive, especially in the development of the Jakarta MRT project, Patimban Port, and the Bekasi Proving Ground

“We hope to increase more intensive cooperation with Japan, especially in the development of the Jakarta MRT project, Patimban Port, and the Bekasi Proving Ground,” said Dudy in his statement, quoted Tuesday (3/12/2024).

Regarding the Jakarta MRT project, Dudy hopes that with the support of the Japanese Ambassador, the MRT project can run smoothly and according to plan, so that it can improve the connectivity of the Jabodetabek area.

“I hope that with the support of the Japanese Ambassador, the Jakarta MRT project can run smoothly and according to the targets that we have agreed upon together. In addition to the construction of the MRT, I also hope that the connectivity of the Jabodetabek area can be improved through the integration of the main line with feeder services,” he added.

In addition to a number of infrastructure project developments, Dudy also conveyed the potential for future cooperation between the two countries, such as in terms of developing human resources (HR) in transportation through internship program cooperation.

“Among them are student and teacher exchanges from schools or polytechnics under the Ministry of Transportation, or guest lecturer programs from Japanese experts in the field of transportation. This aims to provide international experience that can enrich their skills and insights in the field of transportation,” explained Dudy.

December 3, 2024, detikFinance

(https://finance.detik.com/infrastruktur/d-7668244/ri-jepang-bakal-kerja-sama-infrastruktur-transportasi)

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Indonesia and Canada Work on Critical Minerals and Energy Transition

Minister of Energy and Mineral Resources, Bahlil Lahadalia together with the Canadian government established bilateral cooperation through a Memorandum of Understanding (MoU) regarding critical minerals to the energy transition in Indonesia. The cooperation was carried out between Bahlil and the Minister of Export Promotion, International Trade, and Development of Canada Mary Ng.

The memorandum of understanding covers several programs, ranging from the implementation of environmental, social, and governance (ESG) standards, reducing greenhouse gas (GHG) emissions through clean technology, to strengthening trade and investment in the mining sector.

Bahlil said that the bilateral cooperation is expected to support energy transition projects in Indonesia and encourage economic growth in Indonesia and Canada. Furthermore, Bahlil said that the cooperation will also encourage the fulfillment of energy needs in Indonesia which are considered to continue to increase. This is also said to be in line with the projected growth in domestic electricity needs reaching 61 Giga Watts (GW).

“Our current electricity is 91 GW with economic growth below 6%. President Prabowo’s target for future economic growth is 8%, so we need an additional 61 GW to support that target,” Bahlil explained in the Energy Transition Roundtable (ETR) session, quoted from an official statement, Tuesday (3/12/2024).

In addition, cooperation between Indonesia and Canada is also considered in line with the energy transition program in Indonesia which is currently being drafted through the revision of the 2025-2033 Electricity Supply Business Plan.

“We designed the 2025-2033 Electricity Supply Business Plan with a target of 60% new renewable energy. We are committed to achieving net zero emissions by 2060, even pushing for it to be faster in 2050,” he added.

Bahlil also expressed his optimism about the potential for cooperation with Canada in the field of nuclear energy. Nuclear energy itself, said Bahlil, will begin to be implemented in Indonesia in 2032.

“We know that Canada is one of the leading countries in nuclear development. The House of Representatives has approved the use of nuclear power, and we are targeting the regulation to be completed in 2025. Its implementation will begin gradually in 2032,” said Bahlil. In addition, Bahlil also emphasized the importance of this cooperation to maintain a balance between advanced technology and affordable prices.

On the other hand, the Minister of Export Promotion, International Trade, and Development of Canada Mary Ng explained that through this bilateral collaboration, her party would support the sustainable energy transition in Indonesia.

Mary revealed that the Canadian government had actually prepared funds of up to 5.3 billion Canadian dollars (CA$) equivalent to IDR 60.14 trillion (assuming an exchange rate of IDR 11,348 per CA$) to support the world’s energy transition program, including one for Indonesia.

“Our commitment to supporting Indonesia’s fair and sustainable energy transition is substantial. This includes our global climate funding of CA$ 5.3 billion, including Indonesia over the past five years,” said Mary on the same occasion.

Mary said that the funding provided by the Canadian government was partly to support key projects with the Asian Development Bank, such as the Sarulla geothermal power plant in North Sumatra and wind and solar power plants in South Sulawesi and Lombok. Mary also said that Canada is proud to be a partner in the Just Energy Transition Partnership (JETP), which aims to mobilize public and private financing of up to US$ 20 billion to support Indonesia’s energy transition.

December 3, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/news/20241203122901-4-592960/ri-gandeng-kanada-garap-mineral-kritis-transisi-energi)

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Indonesia-Canada Finalize ICA-CEPA Trade Agreement

Indonesia and Canada have substantially completed the Comprehensive Economic Partnership Agreement (CEPA) trade agreement. This agreement is expected to increase bilateral trade between the two countries.

The signing of the declaration of completion of the CEPA negotiations between Indonesia and Canada was carried out by the Indonesian Minister of Trade (Mendag) Budi Santoso and the Canadian Minister of Export Promotion, International Trade, and Economic Development Mary Ng.

“Today marks two important events, namely the signing of a joint declaration on the completion of the Canada-Indonesia Comprehensive Partnership Agreement negotiations, and the start of Team Canada’s largest trade mission,” said Mary at a press conference in Senayan, Central Jakarta, Monday (2/12/2024).

“This important moment reflects the strong and broad relationship between Canada and Indonesia, which was strengthened by last month’s productive meeting between Prime Minister Justin Trudeau and President Prabowo Subianto. Their discussions highlighted shared priorities, particularly in addressing food and energy security, and encouraged collaboration that benefits both countries,” she said.

Mary then said that Canada is committed to providing technical assistance and capacity building to facilitate the implementation of CEPA in Indonesia.

“In this agreement there is a commitment of US$25 million over five years, and this really reflects our commitment and belief that your (Indonesia’s) success is our success,” he added.

Mary said that they were very pleased that the support and investment mechanism would be created to support the effective implementation of the special trade agreement in Indonesia.

“This support will really drive economic growth for all of our businesses of all sizes and really make trade work for everyone in our economy. So, we are very excited about that,” he added.

Indonesia itself is Canada’s 22nd largest trading partner worldwide and the third largest among Southeast Asian countries.

In 2023, two-way trade in goods between Canada and Indonesia was worth 5.1 billion Canadian dollars (IDR57.6 trillion), while Canadian exports of goods to Indonesia were worth 2.3 billion Canadian dollars (IDR25.9 trillion). This makes Indonesia Canada’s largest export market that year among ASEAN members.

December 2, 2024, CNBC Indonesia

(https://www.cnbcindonesia.com/news/20241202151947-4-592731/indonesia-kanada-rampungkan-perjanjian-dagang-ica-cepa-apa-untungnya)