Indonesia, RoK agree to sign FTA
Tuesday, 07/04/2020 13:39 (GMT+7)
Indonesia and the Republic of Korea on April 6th agreed to hold a signing ceremony of their bilateral free trade deal in the near future to quickly implement it in a way that helps minimise the economic fallout from the new coronavirus pandemic.
During a videoconference with Indonesian Trade Minister Airlangga Hartarto, RoK Trade Minister Yoo Myung-hee said the international community must join forces to sustain the global supply chain, according to the RoK’s Yonhap news agency.
Source: VNA
In line with efforts to overcome the economic jitters, the two countries agreed to hold a signing ceremony of the much-awaited Comprehensive Economic Partnership Agreement (CEPA) at the earliest date possible after the situation is stabilised, reported Yonhap.
The two countries struck the deal in November last year with a goal of holding an official signing ceremony in the first half of 2020 to pave the way for the official implementation.
The CEPA is equivalent to a free trade agreement but focuses on a broader scope of economic cooperation. The two resumed their FTA negotiations in 2019 after a hiatus of five years.
On the occasion, minister Yoo requested Jakarta to lend hands to RoK businesses based in Indonesia that are suffering from the economic fallout of the COVID-19 pandemic./.
CPV/VNA
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