Nusa Dua, Bali Indonesian Trade Minister Zulkifli Hasan met with Canadian Minister of Trade, Small Business, Export Promotion, and International Trade, Mary Ng, in Nusa Dua, Bali, to discuss strengthening trade relations between the two countries.
The meeting was related to the framework of the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) on which the third round of negotiations will be held virtually from October 31–November 4, 2022.
“The meeting was productive and both parties showed the flexibility to find common ground on various issues. Several working groups will hold an intercession before the third round of negotiations to speed up the progress of the negotiations,” Hasan informed in Bali on Friday.
The meeting was held on the sidelines of the G20 Trade, Investment, and Industry Ministerial Meeting (TIIMM) in Nusa Dua, Badung, Bali, from September 21–23.
During the meeting, the two ministers discussed improving trade relations between Indonesia and Canada, in bilateral, regional, and multilateral forums. Canada also expressed interest in bringing beef and live cattle to Indonesia.
Hasan lauded Canada’s openness and flexibility in approaching Indonesia, in particular, on new issues negotiated at the ICA-CEPA, such as employment, environment, and inclusive trade.
“Therefore, negotiations need to be continued in a collaborative spirit,” he said.
The Trade Minister welcomed Canada’s interest in bringing beef and live cattle to Indonesia. However, to supply meat, Canada will have to meet health regulations, product safety, and halal requirements formulated by the Ministry of Agriculture and the Ministry of Religious Affairs, he said.
“For this reason, Canada should coordinate with the Ministry of Agriculture and the Halal Product Assurance Agency of the Religious Affairs Ministry to be able to immediately supply the meat to Indonesia,” Hasan informed.
In the January–July 2022 period, the total trade between Indonesia and Canada was recorded at US$2.41 billion, up 38.03 percent from the same period in 2021.
Meanwhile, in 2021, the total trade between the two countries reached US$3.12 billion, an increase of 29.57 percent from US$2.40 billion the previous year.
Indonesia’s main exports to Canada include natural rubber, textiles, vehicle parts, rubber tires, and footwear. Meanwhile, Indonesia’s main imports from Canada include wheat and machinery, mineral fertilizers, chemical wood powder, soybeans, and iron ore.
In the field of investment, Canada occupies the 17th position as a source of foreign direct investment for Indonesia.
In 2021, the country recorded an investment of US$182.1 million in 126 projects in the main mining sector; housing, industrial, and office areas; as well as other services.
In the five years from 2017 to 2021, Canada invested a total of US$800 million in 691 projects in Indonesia.
Source: Antara News