Chile–Indonesia Comprehensive Economic Partnership Agreement Explained

The Chile–Indonesia Comprehensive Economic Partnership Agreement is a bilateral free trade agreement signed between Chile and Indonesia in December 2017 and in effect since August 2019.

Terms

The agreement covered a gradual elimination of tariffs on 9,308 items exported by Chile to Indonesia (including copper, olive oil and dairy products) and 7,669 items being exported by Indonesia to Chile (including palm oil, automotive products and footwear).[1] Out of the 7,669 Indonesian products, 6,704 immediately had tariffs eliminated once the agreement entered into force, while the rest were to have tariffs eliminated within 6 years of the implementation.[2]

History

Chilean and Indonesian governments first agreed to form a joint study group for a potential trade agreement in November 2008, receiving the final report by November 2009.[3] The first negotiations did not begin until five years later in May 2014 in Santiago,[4] and after three years of pause the negotiations resumed with another round in Jakarta during March 2017.[5] Three further rounds were held throughout 2017,[3] and on 14 December 2017 the formal agreement was signed in Santiago between Chilean Foreign Minister Heraldo Muñoz and Indonesian Trade Minister Enggartiasto Lukita.[6]

The Indonesian People's Representative Council and the Senate of Chile ratified the agreement on 6 June 2018 and 28 November 2018, respectively.[7] [8] The agreement entered into force on 10 August 2019.[9] Chile was the first country in Latin America to have a bilateral trade agreement with Indonesia.[10]

In addition to the free trade agreement, both countries had agreed to enter negotiations regarding trade in services, a process expected to begin in the last quarter of 2020.[11]

External links

Notes and References

  1. News: Indonesia aims to double trade with Chile under new partnership . 27 August 2020 . Reuters . 11 June 2019 . en.
  2. News: Perjanjian Dagang Indonesia-Chile Berlaku, RI Rilis 3 Regulasi . 27 August 2020 . tirto.id . 12 August 2019 . id.
  3. Web site: Chile-Indonesia . sice.oas.org . . 27 August 2020 . en.
  4. News: Chile e Indonesia inician negociaciones para un acuerdo comercial . 27 August 2020 . La Información . 26 May 2014 . es.
  5. Web site: 27 August 2020. Chile reanudó negociaciones con Indonesia para alcanzar un acuerdo comercial . subrei.gob.cl . Subsecretaría de Relaciones Económicas Internacionales de Chile . es.
  6. Web site: Indonesia-Chile Signed a Comprehensive Trade Agreement . . 27 August 2020 . en . 15 December 2017.
  7. News: DPR Setujui Ratifikasi Kerja Sama Dagang Indonesia-Chile . 27 August 2020 . katadata.co.id . 7 June 2018 . id.
  8. News: San Juan . Patricia . Senado aprobó acuerdo comercial entre Chile e Indonesia y modernización del TLC con Canadá . 27 August 2020 . . 28 November 2018 . es.
  9. News: Indonesia-Chile CEPA to Come into Effect in August 2019. 27 August 2020 . Indonesia Investments . 14 June 2019 . en.
  10. News: Chile renueva sus acuerdos comerciales con Indonesia y Canadá . 27 August 2020 . El Economista America . 29 November 2018 . es . 29 November 2018 . https://web.archive.org/web/20181129202251/https://www.eleconomistaamerica.cl/economia-eAm-chile/noticias/9551847/11/18/Chile-renueva-sus-acuerdos-comerciales-con-Indonesia-y-Canada-.html . dead .
  11. Web site: Chile e Indonesia conmemoran un año de vigencia de su acuerdo comercial . subrei.gob.cl . Subsecretaría de Relaciones Económicas Internacionales de Chile . 27 August 2020 . es . 11 August 2020.

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