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Today’s Top Headlines




EFTA And Indonesia Resume Free Trade Talks

by Ulrika Lomas, Tax-News.com, Brussels

01 June 2016

The European Free Trade Association states (Iceland, Norway, Liechtenstein, and Switzerland) and Indonesia have completed the tenth round of negotiations towards a proposed Comprehensive Economic Partnership Arrangement (CEPA).

According to a statement published by EFTA on May 26, the parties held "constructive discussions addressing most parts of the envisaged CEPA" with "good progress" achieved in several areas of the talks.

The latest round of talks was held in Interlaken, Switzerland, on May 23-26, following a two-year pause in the negotiating process owing to the parliamentary and presidential elections in Indonesia.

Preparations for negotiations towards a CEPA between Indonesia and the EFTA states began in 2005, and negotiations were launched in 2010. A total of ten rounds of negotiations have taken place. An 11th round of negotiations is set to be held in the autumn of 2016.

According to EFTA, merchandise trade between the two parties equaled USD2.3bn in 2015. The EFTA states exported goods to Indonesia worth USD737m last year, primarily machinery and pharmaceuticals. Meanwhile, Indonesia exported USD1.5bn worth of goods to the EFTA states in 2015, mainly precious stones and metals, footwear, and electrical machinery.

TAGS: free trade agreement (FTA) | Iceland | Liechtenstein | Norway | Indonesia | Switzerland | trade | Europe

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