The Indonesian Ministry of Trade (Kemendag) aims to finalize four international trade agreements by 2025. Among the priorities is the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), which is currently 85% complete and expected to conclude by Q1-2025, according to Trade Minister Budi Santoso during a press conference on January 6. Other agreements include the Indonesia-Canada CEPA, targeted for signing in May 2025; the Indonesia-Peru CEPA, expected to finalize negotiations by Q1-2025; and the Indonesia-Eurasian Economic Union Free Trade Agreement (Indonesia-EAEU FTA), also planned for completion in Q1-2025.
In addition to these four agreements, Kemendag is advancing negotiations on several other priority trade deals, such as the Indonesia-Tunisia PTA, Indonesia-Sri Lanka PTA, Indonesia-Turkey CEPA, Indonesia-GCC CEPA, ASEAN-Canada FTA, and Indonesia-Mercosur CEPA. Minister Budi highlighted that Indonesia currently has 19 bilateral and regional FTAs and CEPAs with partners including ASEAN, China, Japan, South Korea, Australia, New Zealand, and others. Export contributions to FTA partner countries reached 71.22% of Indonesia's total exports in 2023, up from 69.24% in 2022. Additionally, Kemendag successfully addressed trade remedies in Australia and the United States, securing potential export values of USD 554.8 million (approximately IDR 8.8 trillion).
