Trade Minister: Prabowo's diplomacy accelerates strategic trade agreements
Jakarta (ANTARA) - Trade Minister Budi Santoso has stated that President Prabowo Subianto's diplomacy on the international stage has accelerated the completion of a number of strategic trade agreements.
According to the minister, this diplomacy has been a key factor in fast-tracking various trade deals, including with the United States, which he believes will boost national exports.
"President Prabowo's diplomacy is excellent — his diplomacy on the international stage is outstanding. So many trade agreements have been concluded quickly, thanks to him," Budi said at the Ministry of Trade offices in Jakarta on Friday.
Budi noted that President Prabowo's diplomacy had secured Indonesia a reciprocal tariff rate of 19 per cent with the United States, an agreement that was signed in Washington DC on Thursday (19 February) local time.
In addition, Indonesia has also completed negotiations on the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), the Indonesia-Canada CEPA, and the Indonesia-Eurasia Free Trade Agreement (FTA).
"The IEU-CEPA was finally concluded quickly after his excellent diplomacy. The Indonesia-Eurasia FTA, then Indonesia-Canada, and most recently the United States deal. These were all completed swiftly and the results are very good," Budi said.
According to the minister, the faster completion of trade agreements opens two major opportunities for Indonesia: attracting foreign direct investment and increasing exports through expanded market access.
He added that as Indonesia secures more trade agreements, its export markets become broader and more competitive.
"If they invest and produce competitive goods — particularly manufactured goods — our exports will increase rapidly," he said.
According to the minister, this diplomacy has been a key factor in fast-tracking various trade deals, including with the United States, which he believes will boost national exports.
"President Prabowo's diplomacy is excellent — his diplomacy on the international stage is outstanding. So many trade agreements have been concluded quickly, thanks to him," Budi said at the Ministry of Trade offices in Jakarta on Friday.
Budi noted that President Prabowo's diplomacy had secured Indonesia a reciprocal tariff rate of 19 per cent with the United States, an agreement that was signed in Washington DC on Thursday (19 February) local time.
In addition, Indonesia has also completed negotiations on the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), the Indonesia-Canada CEPA, and the Indonesia-Eurasia Free Trade Agreement (FTA).
"The IEU-CEPA was finally concluded quickly after his excellent diplomacy. The Indonesia-Eurasia FTA, then Indonesia-Canada, and most recently the United States deal. These were all completed swiftly and the results are very good," Budi said.
According to the minister, the faster completion of trade agreements opens two major opportunities for Indonesia: attracting foreign direct investment and increasing exports through expanded market access.
He added that as Indonesia secures more trade agreements, its export markets become broader and more competitive.
"If they invest and produce competitive goods — particularly manufactured goods — our exports will increase rapidly," he said.