Claimed To Be Profitable For Indonesia And The UAE, These Are A Series Of Benefits For The IUAE-CEPA

Photo: Doc. Ministry of Trade

JAKARTA - The Ministry of Trade claims that the Indonesia-United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA) brings many benefits to Indonesian entrepreneurs. One of them is related to the ownership portion of companies from the two countries which can reach 75 percent.

Director General of International Trade Negotiations at the Ministry of Trade, Djatmiko Bris Witjaksono, said that the share of ownership of the two countries' companies is one thing that can be utilized. According to him, this is an advantage between the two countries in the service sector.

"In terms of how we provide foreign equity facilities to service providers, especially for companies or investors in the service sector who are interested in securing their capital in Indonesia or in the UAE. 75 percent level," he said at a press conference, Monday, July 4.

Still in the service trade sector, said Djatmiko, there are various facilities that can be utilized by the travel business sector and the workforce. Moreover, he said, the Middle East region is a destination for many migrant workers from Indonesia.

"So that we also at IUAE-CEPA can provide a facility to fellow migrant workers from Indonesia," he said.

CEPA Becomes the Entrance for Indonesian Products

The IUAE-CEPA Comprehensive Economic Partnership Agreement has been signed by the trade ministers of the two countries. The signing was carried out by the Minister of Trade Zulkfili Hasan with the Minister of Economy of the United Arab Emirates, Abdulla bin Toug Al Marri.

The Indonesia-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement was finally signed only 9 months after it was launched by the trade ministers of the two countries.

Zulhas, Zulkifli Hasan's nickname, said that this achievement was in line with the target given by the two heads of state, namely the completion of negotiations in less than a year.

Furthermore, Zulhas said that the agreement for the Indonesia-United Arab Emirates Comprehensive Economic Partnership was the entry point for Indonesian products to the UAE.

"This agreement is Indonesia's entry point to the UAE, which is a hub for increasing exports to non-traditional destination countries such as the Gulf, Middle East, Africa and South Asia," he said, quoted from the official Instagram @zul.hasan, Sunday, July 3.