Nhập mô tả cho ảnh The trade deal was signed by Indonesian Minister of TradeZulkifli Hasan and Minister of Economy of the UAE Abdulla bin Touq Al Marri onJuly 1, on the sidelines of President Joko Widodo's working visit to Abu Dhabi.
The Indonesian President positively welcomes the completionof the IUAE-CEPA, said Trade Minister Hasan in a statement. This agreement isIndonesia's entry point to the UAE, which is a hub for increasing exports tonon-traditional destination countries, such as the Gulf, Middle East, Africa,and South Asia.
The signing of the IUAE-CEPA is also a historic moment, asit is the first time that Indonesia has a trade agreement with a country in theGulf region.
He said he hopes that when the IUAE-CEPA takes effect,improvement of the performance of the trade and investment sectors, driven bythe IUAE-CEPA, can further accelerate post-pandemic economic recovery andincrease Indonesia's competitiveness.
Meanwhile, Director General of International TradeNegotiations at the Indonesian Ministry of Trade Djatmiko Bris Witjaksonoremarked that the IUAE-CEPA negotiations were immensely beneficial forIndonesia, one of which was market access to the UAE through reducing andeliminating import duty rates of around 94% of the total tariff posts.
The issue of Islamic economics in the IUAE-CEPA has alsobecome a historical record for Indonesia. This is because, for the first time,the issue of Islamic/sharia economics has been included as one of the scopes ofa comprehensive economic partnership agreement with Indonesia's trading partnercountries.
In 10 years, Indonesian exports to the UAE are projected torise by 844.4 million USD, or an increase of 53.90%. In addition, Indonesia'simports from the UAE are projected to increase by 307.3 million USD, or around18.26%
Total trade between Indonesia and the UAE in 2021 hadreached 4 billion USD, an increase of 37.88% as compared to 2.9 billion USD2 in2020.
Indonesia's main exports to the UAE are jewelryand parts thereof, palm oil and its derivatives, motor vehicles, electronicequipment for cellular telephones, and reception apparatus for television.
Indonesia's imports from the UAE last year reached 2.1billion USD, a year-on-year increase of 27.33 percent, with importedsemi-finished products made of iron or steel, unforged aluminum, gold, sulfur,and propylene polymer./.
VNA
