Wahyu Dwi Anggoro
IDXChannel - Indonesian Minister of Trade Zulkifli Hasan and Japanese Minister of Foreign Affairs Yoko Kamikawa signed the Indonesia-Japan Economic Partnership Agreement (IJEPA) Protocol Amendment in early August 2024.
"We hope that the IJEPA agreement can be utilized promptly by businesses to support the economic groth and prosperity of both countries," the Indonesian minister said in a media release.
This strategic economic agreement encompasses several crucial aspects in the Indonesia-Japan trade relations. One of the highlights of the agreement is the improvement of market access for Indonesian export products to Japan across 112 tariff lines, including processed fishery products. This is expected to enhance the competitiveness of Indonesian businesses against competitors.
In the services trade, the agreement also provides opportunities for closer cooperation in the banking sector and trade through electronic systems, facilitation for SMEs in utilizing digital platforms (marketplaces), capacity building, training, research, and e-commerce utilization.
Both countries are also ready to collaborate in various sectors including automotive, mold and dies, enhancing caregiver competency, developing medical equipment testing facilities, creative economy, and real estate capacity building.
