IK CEPA Will Make RI-South Korea Cooperation Easier: Minister

    Sonya Michaella, Christopher Harindra - 18 September 2019 14:57 WIB
    IK CEPA Will Make RI-South Korea Cooperation Easier: Minister
    Industry Minister Airlangga Hartarto (Photo:Medcom.id/Sonya Michaella)
    Jakarta: Indonesian Industry Minister Airlangga Hartarto said the Indonesia-Korea Comprehensive Economic Partnership Agreement (IK CEPA) would facilitate industrial cooperation between Indonesia and South Korea.
    "IK CEPA will certainly facilitate the value chain related to the industry itself, "Airlangga said, at the Indonesia-Korea Conference 2019, Jakarta, Wednesday, September 18, 2019.
    Airlangga added, IK CEPA also affected two-way trade cooperation which of course could continue to be improved, given the commitment of Indonesian President Joko "Jokowi" Widodo to increase the value of trade to USD30 billion in 2022.

    "It is not difficult to achieve, in my opinion. Because now the value has already reached USD18 billion, "continued Airlangga.
    In addition, Airlangga also said that now Indonesia and South Korea are studying the potential cooperation to export batteries for electric cars from Indonesia.
    "There are Korean companies that have come to Indonesia. But we are still reviewing it because the Presidential regulation was just launched. Government Regulation 41 is still in process, "he said again.
    He stressed, so far Indonesia has become a priority in the New Southern Policy of South Korea. Therefore, Indonesia continues to encourage the improvement of cooperation with South Korea.
    Previously, Indonesia already had trade cooperation with South Korea, but under the auspices of the ASEAN-Korea Free Trade Agreement (FTA). However, Indonesian products to South Korea do not have special preferences in the cooperation, because they are multilateral.

    The value of trade between the two countries in 2018 reached USD18.62 billion, growing 14.08 percent compared to the previous year which was USD16.32 billion. 


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