Indonesia-Canada CEPA Expected to Boost Trade and Investment, Says Trade Minister

Ottawa, The Gulf Observer: Indonesia’s Trade Minister Budi Santoso has said that the recently signed Comprehensive Economic Partnership Agreement (CEPA) with Canada is expected to accelerate trade and investment, providing greater market access for Indonesian goods and services in Canada and across North America.

Speaking on Friday, Santoso expressed hope that the ratification process, which typically takes up to 10 months, could be expedited, allowing the agreement to take effect by mid-2026. “With this agreement, tangible benefits in trade and investment can be quickly felt by stakeholders in both countries,” he said.

Both governments have agreed to promote the pact through chambers of commerce in their respective countries to raise awareness and ensure businesses can fully utilize the opportunities offered by the agreement. An implementation team will also be established to identify trade opportunities and joint investment projects, with a focus on infrastructure, transportation, and telecommunications.

During a meeting with Canadian Minister of International Trade Maninder Sidhu in Ottawa on September 24, Santoso highlighted several strategic areas expected to strengthen under CEPA, particularly improving market access for Indonesia’s priority exports. He noted that this would be supported by technical cooperation and the harmonization of food safety standards.

The Indonesian government, Santoso emphasized, remains committed to enhancing compliance systems to boost the competitiveness of its products in global markets, especially in Canada. “We continue to work hard to ensure our products meet international standards so they can compete globally, including in Canada,” he said.

Santoso also called for support from the Canadian government to gain a deeper understanding of the types of products most in demand in the Canadian market, aiming to further strengthen bilateral trade.