65% Indonesian market will be open after RCEP

So 65 percent (of the domestic market) will be open when it takes effect. The percentage will increase in the next 10 years, 15 years and later 20 years when 89.5 percent of our markets will be open

Jakarta (ANTARA) - Nearly 65 percent of the Indonesian market will be open to partner countries when the Regional Comprehensive Economic Partnership (RCEP) begins to take effect, a Trade Ministry official said. The Indonesian market will gradually be open to partner countries after negotiations on the agreement are concluded in 2020, Director of ASEAN Negotiations of the Directorate General of International Trade Negotiations of the Trade Ministry Donna Gultom said a discussion entitled "RCEP Hopes Investment" in Jakarta Wednesday.

"So 65 percent (of the domestic market) will be open when it takes effect. The percentage will increase in the next 10 years, 15 years and later 20 years when 89.5 percent of our markets will be open," she said.

The government will make the maximum effort to put several types of goods or commodities on the highly sensitive list or even exclusion list during free trade with partner countries, Donna assured.

There is eight percent in the exclusion list where Indonesia is not committed to opening its market to all countries and several percent where Indonesia will not open its market to several specified countries, she noted.

"The sensitivity of each country is different from one another but we assure that access to the domestic market will reach 89.5 percent compared to that of other countries at an average of 90 percent," she said.

The rule is imposed to ensure that investment flow can always be encouraged and that the 15 countries can mutually benefit from the market. (INE)

Source: ANTARA News

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