{
    "success": true,
    "data": {
        "id": 1871547,
        "msgid": "indonesia-chile-push-ic-cepa-to-expand-bilateral-trade-1784613027",
        "date": "2026-07-21 11:59:14",
        "title": "Indonesia, Chile push IC-CEPA to expand bilateral trade",
        "author": "",
        "source": "ANTARA_EN",
        "tags": "",
        "topic": "Trade",
        "summary": "Indonesia and Chile are intensifying efforts to optimise their Comprehensive Economic Partnership Agreement (IC-CEPA) to boost bilateral trade and expand market access. Trade Minister Budi Santoso announced plans to complete investment chapter negotiations this year and proposed a business forum to strengthen commercial ties. Bilateral trade remains modest, with Indonesia recording a significant surplus driven by vehicle, fertiliser, and footwear exports.",
        "content": "<p>Indonesia\u2019s Minister of Trade Budi Santoso made the remarks after\nmeeting Chilean Minister of Foreign Affairs Jose Francisco Perez\nMackenna in Jakarta on Tuesday to discuss efforts to optimize the\nIndonesia-Chile Comprehensive Economic Partnership Agreement\n(IC-CEPA).<\/p>\n<p>\u201cIndonesia and Chile already have the IC-CEPA trade agreement. The\nnext step is to optimize this agreement to increase trade while\nexpanding market access for both countries,\u201d Budi said.<\/p>\n<p>He reaffirmed Indonesia\u2019s commitment to implementing the agreement in\nphases based on mutually agreed priorities.<\/p>\n<p>Indonesia brought the agreement\u2019s trade in goods chapter into force\nin 2019, followed by the trade in services chapter in 2025. The two\ncountries also signed a joint statement in 2024 launching negotiations\non an investment chapter.<\/p>\n<p>\u201cWe hope the investment negotiations can be completed through a\nseries of intensive virtual meetings this year,\u201d Budi said.<\/p>\n<p>He said bilateral trade still has considerable room for growth\ndespite the existing agreement, adding that closer engagement between\nbusinesses in both countries would help unlock greater commercial\nopportunities.<\/p>\n<p>To support that effort, Budi proposed establishing a business forum\nbringing together investors, exporters, and importers from Indonesia and\nChile.<\/p>\n<p>Chile ranked as Indonesia\u2019s 46th-largest export destination and its\n65th-largest source of imports.<\/p>\n<p>During January-May 2026, bilateral trade totaled US$226.2 million.\nIndonesia\u2019s exports to Chile reached US$179.1 million, while imports\nstood at US$47.1 million, resulting in a trade surplus of US$132.1\nmillion.<\/p>\n<p>In 2025, total bilateral trade amounted to US$535.5 million.\nIndonesia exported US$441.5 million worth of goods to Chile and imported\nUS$94.0 million, posting a trade surplus of US$347.5 million.<\/p>\n<p>Indonesia\u2019s main exports to Chile include passenger vehicles and\nother motor vehicles, mineral and chemical fertilizers, and\nfootwear.<\/p>\n<p>Its main imports from Chile include frozen fish, chemical wood pulp,\nmineral and chemical fertilizers, starch, and grapes.<\/p>\n<p>Related news: IP-CEPA to boost Indonesia\u2019s exports to Peru to US$745\nmln: Minister<\/p>\n<p>Related news: Indonesia-European Union CEPA enters key approval\nphase: Minister<\/p>\n<p>Translator: Maria Cicilia Galuh Prayudhia, Martha Herlinawati<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indonesia-chile-push-ic-cepa-to-expand-bilateral-trade-1784613027",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}