Chairman of the Indonesian Chamber of Commerce and Industry (Kadin), Anindya Bakrie, stated that the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) has the potential to facilitate and increase Canadian investment in Indonesia. In addition to investment, Anindya emphasized that ICA-CEPA will provide Indonesian products with greater access to Canadian markets for export. "This is a historic partnership between the two countries. While the ICA-CEPA is easy to discuss, it is not always easy to realize. This economic partnership between Indonesia and Canada is expected to be operational within the next 2-3 years, which is relatively fast," Anindya said, after speaking at the CEPA Forum Panel Discussion at Hotel Mulia, Senayan, Jakarta, on Monday (December 2, 2024).
Anindya outlined several key sectors with strong potential for the Indonesia-Canada economic partnership, including energy resilience, food security, critical minerals, and defense cooperation. He added that several sectors could benefit from Foreign Direct Investment (FDI) under ICA-CEPA, including manufacturing, technology, agriculture, and energy. "They have large funds called Maple, 'Maple Leaf 9'. There are 9 areas that can be worked on because they are large fund managers capable of making investments," he explained. Anindya highlighted that energy, particularly in the context of energy transition, requires significant funding and technology. "This is a major development and the beginning of many things to come. It is important to note that ICA-CEPA brings advantages for both Indonesia and Canada," he concluded. Anindya also pointed out that Indonesia has signed CEPA agreements with several other countries, such as the United Arab Emirates and Australia, which will further increase foreign investment flows into Indonesia. This is especially timely given President Prabowo's recent foreign visits, which resulted in a commitment of USD 18.5 billion in foreign investments.
