After being delayed for more than two years, negotiations for a comprehensive economic partnership agreement (CEPA) between Indonesia and Chile resumed on Monday and was to run until yesterday.
Iman Pambagyo, director-general of international trade negotiations with the Indonesia Trade Ministry, said the negotiations were important for enabling penetration of the Latin American market.
“It is crucial to penetrate Chile and other third-world countries in the Latin America region because Chile has dozens of FTAs [free trade agreements] with more than 60 countries worldwide,” he told reporters after opening the second round of negotiations on Monday.
The first round of the talks took place on May 23 and 24, 2014, in Santiago, Chile, but could not be immediately followed up for political reasons.
Iman said both governments wished to see |negotiations conclude this year.
Indonesia aims to export more of its crude palm oil, margarine, vegetable oil, rubber and furniture, besides its current export of footwear and automotive products to the country. Chile’s main exports to Indonesia, meanwhile, are copper|and fishery feed.
Total trade between the two countries was worth US$227.15 million (about Bt8 billion) last year. Exports from Indonesia declined 2.4 per cent to $143.81 million, while imports from Chile decreased drastically by 52.06 per cent to $83.34 million, Indonesian Trade Ministry data show.