IK-CEPA enhances Indonesian products’ access to RoK
The Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) will facilitate products of Indonesia to enter the market of the Republic of Korea (RoK), Indonesian Deputy Minister of Trade Jerry Sambuaga said on December 8.
At the signing ceremony of the IK-CEPA in 2020 (Photo: Yonhap News)
Jakarta (VNA) - The Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA) will facilitate products of Indonesia to enter the market of the Republic of Korea (RoK), Indonesian Deputy Minister of Trade Jerry Sambuaga said on December 8.
The IK-CEPA removes 95.5 percent of tariff lines on Indonesia’s exports in the RoK, with 11,687 products enjoying zero taxes. Meanwhile, Indonesia cuts down 92 percent of tariffs on 9,954 goods imported from the RoK.
Negotiations on the IK-CEPA started in 2012. It was resumed in 2019 after a period of stagnation, and inked in December 2020 after 10 rounds of talks./.
The Indonesian Government targeted completing negotiations on Regional Comprehensive Economic Partnership (RCEP), Indonesia-Korea Comprehensive Economic Partnership Agreement (IK-CEPA), and Indonesia-Taiwan Economic Cooperation Framework Agreement (IT-ECA) by 2019-end.
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At the signing ceremony of the IK-CEPA in 2020 (Photo: Yonhap News) 
