News Room - Business/Economics

Posted on 07 Aug 2007

Indonesia, Japan to agree on economic partnership

The Indonesia-Japan Economic Partnership Agreement (EPA) would be signed by on August 20 during an official visit to Indonesia by Japanese Prime Minister Shinzo Abe.

 

Then, the EPA is scheduled to be implemented from November, Indonesian Trade Minister Mari Elka Pangestu said.

 

"We have agreed to set up a joint sub-committee to monitor the implementation of the agreement," Minister Mari Elka Pangestu was quoted by Indonesia's Antara news agency as saying.

 

The business opportunities opened through the EPA could reach USD 65 billion in 2010, the Minister added.

 

With the agreement, Indonesia hopes to increase its export market share for a variety of its products in Japan. Japan at present imported 20 percent of Indonesia's total exports.

 

According to the Minister, Indonesia's export to Japan is expected to continue to grow 4.68 percent a year and Indonesia hopes it can compete with other countries which already have similar agreements with Japan.

 

 

bvom.com August 7, 2007