Jakarta (ANTARA) - Trade Minister Budi Santoso is encouraging the optimization of the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) through more intensive joint dissemination efforts."Optimal utilization of IK-CEPA can certainly improve the trade performance of the two countries," he said during a bilateral meeting with South Korean Trade Minister Inkyo Cheong on the sidelines of the APEC Economic Leaders' Week (AELW) 2024 in Peru on Wednesday.
Following the implementation of IK-CEPA in January 2023, the two countries rolled out the Electronic Origin Data Exchange System (EODES) in March 2024 as an electronic SKA exchange system (e-SKA) for the imposition of preferential tariffs for IK-CEPA.
The implementation of EODES is expected to further support the use of IK-CEPA and boost trade between the two countries.
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Minister Santoso also outlined a plan to hold the Joint Committee Meeting (JCM) of IK-CEPA and the Joint Committee on Economic Cooperation (JCEC) of Indonesia-South Korea, as well as the ASEAN-South Korea (ROK) Think-Tank Dialogue.
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Regarding South Korea's proposal to form the ASEAN-ROK Think-Tank Dialogue, Santoso said that Indonesia and ASEAN countries welcome the initiative.
"Indonesia encourages ASEAN and South Korea to assign senior economic officials to prepare follow-up steps in implementing the proposal, including preparing themes that are in the interests of both parties," he said.