Jakarta (Indonesia Window) – Indonesia and Canada on Monday (June 21) agreed to launch the Indonesia-Canada Comprehensive Negotiation Agreement, which is the initial stage to boost economic, trade and investment cooperation between the two countries.
The agreement is a joint effort of the Indonesian Ministry of Foreign Affairs and the Indonesian Ministry of Trade to strengthen international trade agreements.
The process of exploring the negotiating agreement began in early 2020 through several preliminary meetings between Global Affairs Canada and the Indonesian Embassy in Ottawa. The two parties also discussed various issues of trade in goods and services, investment and employment, as well as global issues in the context of trade.
The Canadian government has also conducted public consultations to obtain inputs and general views from the local people and relevant stakeholders.
Indonesia is Canada’s 3rd largest trading partner in Southeast Asia with Indonesia’s import value from Canada of 1.62 billion U.S. dollars, and Indonesia’s export value to Canada of 789.05 million U.S. dollars in 2020.
Indonesia is also Canada’s largest foreign direct investment destination in Southeast Asia with 255 projects and a total investment value of more than 175.3 million U.S. dollars by the end of 2020.
Reporting by Indonesia Window