Indonesia and Japan Discuss Amendments to IJEPA Protocol
Jakarta, The Gulf Observer: Indonesia’s Trade Minister Zulkifli Hasan and Japan’s Parliamentary Vice-Minister for Foreign Affairs Komura Masahiro engaged in discussions to bolster trade cooperation between the two countries, focusing on revisions to the Indonesian-Japan Economic Partnership Agreement (IJEPA).
In a statement released on Sunday, Minister Hasan highlighted the bilateral, regional, and multilateral dimensions of their trade discussions. He expressed Indonesia’s gratitude for Japan’s support in finalizing the IJEPA Protocol negotiations and emphasized the importance of completing the legal scrubbing process and preparing the protocol’s original text in both Indonesian and Japanese.
“The change to the IJEPA Protocol is targeted to be signed by President Joko Widodo and Prime Minister Fumio Kishida before October 2024,” stated Hasan.
During their meeting, the officials also addressed regional matters, including the ASEAN-Japan Comprehensive Economic Partnership (AJCEP) and the Regional Comprehensive Economic Partnership (RCEP), a significant Free Trade Agreement (FTA) effective since January 2, 2023. Indonesia urged Japan to initiate discussions on implementing automotive industry cooperation projects for electric cars, agreed upon during the 50th Anniversary of ASEAN-Japan Friendship and Cooperation Summit in Tokyo last year.
Additionally, Japan has committed to supporting the RCEP Secretariat to become fully operational this year. “We also ask for Japan’s support so that the RCEP accession procedure can be finalized as soon as possible,” Hasan added.
Minister Hasan further invited Japan to back the priorities of the Peruvian Chairmanship for the 2024 Asia-Pacific Economic Cooperation (APEC). He noted that APEC economies continue to support the multilateral trading system through the World Trade Organization (WTO) and the development of regional economic integration via the Free Trade Area of the Asia-Pacific (FTAAP).
Japan stands as Indonesia’s third-largest trading partner, serving as a crucial destination for both exports and imports. The discussions between Hasan and Masahiro mark a significant step in strengthening the economic ties and trade cooperation between Indonesia and Japan.
