ICA-CEPA negotiations had completed substantially

Jakarta (ANTARA) - Coordinating Minister for Economic Affairs Airlangga Hartarto informed the Indonesia-Canada Comprehensive Partnership (ICA-CEPA) has been completed substantially.

However, the two countries still need to finalize several aspects, he added.

"The ICA-CEPA negotiations have been substantially concluded," he said in a statement from his office on Sunday.

According to the plan, the signing of the Joint Ministerial Statement, which marks the end of the ICA-CEPA negotiations, will take place on December 2, 2024, during the visit of Canadian Trade Minister Mary Ng to Jakarta.

Earlier on Friday (November 15), Hartarto accompanied Indonesian President Prabowo Subianto in a bilateral meeting with Canadian Prime Minister Justin Trudeau on the sidelines of the Asia Pacific Economic Cooperation (APEC) Summit in Lima, Peru.

The meeting discussed various potentials to improve cooperation between Indonesia and Canada. Prabowo opened the meeting by expressing appreciation for the significant progress of the ICA-CEPA negotiations, which marked Indonesia's first CEPA in North America.

"This agreement will bring more opportunities to increase trade in the agricultural and manufacturing sectors, as well as strengthen the supply chain," he remarked.

During the meeting, Indonesia encouraged increased partnership with Canada, especially in four sectors. The first sector being critical minerals to optimize investment in the downstream nickel industry for electric vehicles in Indonesia.

Baca juga: Airlangga sebut perjanjian ICA-CEPA telah selesai

This partnership will increase value creation and employment, which also contribute to achieving the goal of zero carbon emissions. Second, food security and self-sufficiency to ensure nutritious food and reduce stunting in Indonesia.

Prabowo offered Canada cooperation in the agricultural and aquaculture sectors through the integration of agricultural technology and innovation. Third, in the energy security sector, Indonesia offered cooperation for research and development to increase innovation capacity for a cleaner and more resilient energy future.

Baca juga: Menteri Airlangga minta pemda tekan ketimpangan jaga pertumbuhan ekonomi

Such efforts are needed to support Indonesia's commitment to achieving zero emissions by 2060, with an investment value of US$1 trillion. The fourth sector is the defense industry. Amidst increasing regional tensions, Indonesia hopes that defense and security cooperation with Canada can be increased to combat terrorism, provide logistical support, and develop the defense industry of both countries.

Prabowo also expressed his hope for Canada's support for the Palestinian issue, especially to continue financial support for Palestine and recognize Palestinian statehood to realize the two-state solution and comprehensive peace.