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Turkey, Indonesia agree to talks on new trade pact

Staff Writer |
Indonesian and Turkish governments agreed to start negotiations on the Comprehensive Economic Partnership Agreement (CEPA) in November.

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This is an attempt to further strengthen economic cooperation between the two countries.

The agreement came following a meeting between Turkish Deputy Prime Minister Fikri Işok and Trade Minister Enggartiasto Lukita.

In July, President Joko Widodo and his Turkish counterpart Recep Tayyip Erdoğan had agreed to continue the positive trend in trade and investment ties during a meeting in Turkish capital Ankara.

"We want to speed up talks in accordance with President Joko Widodo's commitment made during his visit to Turkey last July," Lukita said.

He told Anadolu Agency that a framework for cooperation was supposed to be made eight years ago, but it could only be realized now.

"In the early stages of the negotiations, we wanted to form a PTA [Preferential Trade Agreement]. Turkey government had also agreed," he said.

"To implement the FTA, it takes a long time of negotiations, so we can start with the CEPA first," Lukita Said.

Turkish Deputy Prime Minister Fikri Işık said the two countries were focused on diversifying Turkish and Indonesian commercial ties.

"A roadmap has been made to achieve the trade target of $10 billion in 2023, as agreed by the leaders of both countries," Isik said.

The two countries expressed commitment to improving the trade volume, which was $1.7 billion last year, down by 9 percent from a year earlier.

"One of the substantial instruments to improve bilateral trade and economic relations between the two countries is through the signing of the CEPA agreement," he said.


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