ID :
11233
Tue, 07/01/2008 - 14:59
Auther :
Shortlink :
http://m.oananews.org//node/11233
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RI-JAPAN ECONOMIC PARTNERSHIP AGREEMENT TAKES EFFECT JULY 1
Tokyo, July 1 (ANTARA) - The day on which the Indonesia-Japan Economic Partnership Agreement (EPA) takes effect, Tuesday, July 1, was marked here by a meeting between Indonesian and Japanese officials at the Japanese foreign affairs ministry.
The Indonesian delegation at the meeting comprised, among others, Trade Minister Mari Elka Pengestu as head of the delegation, the industry ministry's secretary general, Agus Tjahajana, Investment Coordinating Board (BKPM) Chairman M Lutfi, and Indonesian Ambassador to Japan Jusuf Anwar as members.
The Japanese delegation consisted, among others, of Japanese Foreign Affairs Minister Masahiro Komura, Finance Minister Fukushior Nukaga, and the deputies minister of agriculture, trade, and forestry.
The two delegations were expected to sign a standard operating procedure for the implementation of EPA at the meeting.
The standard operating procedure concerned issues such as on the flow of goods and services, the origins of goods, and other procedures for bilateral cooperation in the industrial, fisheries, forestry, and agricultural fields.
"These are of course based on the principle of mutual benefit," Indonesian Trade Minister Elka Pangestu said prior to attending the meeting.
The joint meeting would confirm that the Economic Partnership Agreement between the two countries would be effective immediately, including on the standard of operating procedures to be implemented by both states, Pangestu said .
The Indonesian-Japan EPA has as main objective the strengthening bilateral and regional economic relations not only as contained in the Free Trade Agreement (FTA) but also a wide-ranging cooperation in investment and movements of individuals.
Indonesia and Japan are crucial economic partners in East Asia. To Indonesia, Japan is a significant trade partner receiving more than 20 percents of Indonesia's exports, and it is also the biggest foreign investor. To Japan, Indonesia is a major energy supplier and a basis for its manufacturing sector.
As a major trade partner, the value of Indonesian exports to Japan reached 23.6 billion US dollars, while Japanese imports from Indonesia was valued at 6.5 billion US dollars.
The total value of the two countries' bilateral trade in 2007 was recorded at 30.1 billion US dollars and the trade value was reported to have increased in the past four years.
More than 1,000 Japanese companies are operating in Indonesia absorbing 400,000 workers.
EPA, Indonesia's first bilateral free-trade deal, will exempt Indonesian products from 90 percent of Japan's 9,275 import duties, amounting to 99 percent of its export value.
Japan will be exempted from 93 percent of Indonesia's 11,163 import duties, 92 percent of its export value, while being ensured of a steady supply of energy and raw materials from Indonesia.
The EPA discussion was initiated in 2005 during the administrations of former President Megawati Soekarnoputri and former Premier Koizumi. The signing of EPA was conducted by President Susilo Bambang Yudhoyono and Japanese Prime Minister Shinzo Abe in Jakarta, on August 20, 2007.
The Indonesian delegation at the meeting comprised, among others, Trade Minister Mari Elka Pengestu as head of the delegation, the industry ministry's secretary general, Agus Tjahajana, Investment Coordinating Board (BKPM) Chairman M Lutfi, and Indonesian Ambassador to Japan Jusuf Anwar as members.
The Japanese delegation consisted, among others, of Japanese Foreign Affairs Minister Masahiro Komura, Finance Minister Fukushior Nukaga, and the deputies minister of agriculture, trade, and forestry.
The two delegations were expected to sign a standard operating procedure for the implementation of EPA at the meeting.
The standard operating procedure concerned issues such as on the flow of goods and services, the origins of goods, and other procedures for bilateral cooperation in the industrial, fisheries, forestry, and agricultural fields.
"These are of course based on the principle of mutual benefit," Indonesian Trade Minister Elka Pangestu said prior to attending the meeting.
The joint meeting would confirm that the Economic Partnership Agreement between the two countries would be effective immediately, including on the standard of operating procedures to be implemented by both states, Pangestu said .
The Indonesian-Japan EPA has as main objective the strengthening bilateral and regional economic relations not only as contained in the Free Trade Agreement (FTA) but also a wide-ranging cooperation in investment and movements of individuals.
Indonesia and Japan are crucial economic partners in East Asia. To Indonesia, Japan is a significant trade partner receiving more than 20 percents of Indonesia's exports, and it is also the biggest foreign investor. To Japan, Indonesia is a major energy supplier and a basis for its manufacturing sector.
As a major trade partner, the value of Indonesian exports to Japan reached 23.6 billion US dollars, while Japanese imports from Indonesia was valued at 6.5 billion US dollars.
The total value of the two countries' bilateral trade in 2007 was recorded at 30.1 billion US dollars and the trade value was reported to have increased in the past four years.
More than 1,000 Japanese companies are operating in Indonesia absorbing 400,000 workers.
EPA, Indonesia's first bilateral free-trade deal, will exempt Indonesian products from 90 percent of Japan's 9,275 import duties, amounting to 99 percent of its export value.
Japan will be exempted from 93 percent of Indonesia's 11,163 import duties, 92 percent of its export value, while being ensured of a steady supply of energy and raw materials from Indonesia.
The EPA discussion was initiated in 2005 during the administrations of former President Megawati Soekarnoputri and former Premier Koizumi. The signing of EPA was conducted by President Susilo Bambang Yudhoyono and Japanese Prime Minister Shinzo Abe in Jakarta, on August 20, 2007.
