Mon, 21 Mar 2011

Makassar, S Sulawesi (ANTARA News) - Indonesia has so far signed 12 comprehensive economic cooperation agreements with other countries aimed at increasing its foreign trade, a Trade Ministry official said.

The model of the 12 economic cooperation agreements was different from one another, Director of Bilateral Cooperation of the Directorate General of International Trade at the Trade Ministry Pradnyawati said here on Friday.

The economic cooperation agreements were signed with a number of countries including Japan, Australia, India, Pakistan, Iran, Chile, Turkey, Egypt and South Korea, as well as with European Union and the European Free Trade Association (EFTA), she said.

"One of the 12 cooperation agreements comes in the form of Economic Partnership Agreement (EPA) with Japan which began to take effect in July 2008," she said.

Two of the cooperation agreements were in the form of Comprehensive Economic Partnership Agreement (CEPA), and two others Comprehensive Economic Cooperation Agreement (CECA), she said.

The others came in the form of Free Trade Agreement (FTA) and Preferential Trade Agreement (PTA), she said.

"Only one of the cooperation agreements has not been signed, namely (comprehensive economic cooperation agreement) between Indonesia and European Union which is now under joint study group (JSG) status," she said.

She said the increasingly fiercer competition had prompted countries in the world to adopt more strategic steps in establishing economic cooperation including signing comprehensive economic cooperation agreements.