RCEP negotiations enter final round: Indonesian official
The negotiation process on the Regional Comprehensive Economic Partnership (RCEP) has entered its final round and the agreement is expected to be signed in the near future, Indonesian Deputy Minister of Trade Jerry Sambuaga said.
Jakarta (VNA) – The negotiation process on the Regi💫onal Comprehensive Economic Partnership (RCEP) has entered its final round and the agreement is expected to be signed in the near future, Indonesian Deputy Minister of Trade Jerry Sambuaga said.
He noted that the process requires Indonesian negotiators to exert efforts in protecting national interests as legal scrubbing is an important process. Legal language can sometimes have multiple interpretations. Therefore, it is important to make sure that this settlement does not change the substance of Indonesia's interests, he explained. Iman Pambagyo, Chief of the RCEP Trade Negotiating Committee of ASEAN and Director General of International Trade Negotiations at the Trade Ministry of Indonesia, said that with the completion of RCEP’s trade, economic and investment negotiations, Indonesia is hoped to gain access to larger markets and enhance competitiveness. At the same time, the country needs to improve quality product, branding, logistics and payment systems, he added./.
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The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Illustrative image (Photo: finance.detik.com) 
