Indonesia-UAE CEPA Ratification Targeted To Take Effect January 1, 2023

Minister of Trade Zulkifli Hasan. (Photo: Mery Handayani/VOI)

JAKARTA - The Ministry of Trade (Kemendag) targets the ratification or ratification of the Indonesia-United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA) which is targeted to take effect in January 2023.

The Director General of Trade Negotiations at the Ministry of Trade, Djatmiko Bris Witjaksono, explained that the Indonesia-UAE CEPA will take effect provided that both parties have completed ratification, notification, and other technical provisions needed for implementation.

The technical provisions referred to are the Regulation of the Minister of Finance regarding the determination of the amount of tariffs.

Furthermore, Djatmiko said, there are no rules limiting the time for the ratification process.

According to him, if the government and the DPR are in one perspective, then ratification can be fast.

"So the ratification according to the entry to force agreement was carried out in early 2023. This means that January 1, 2023 can be carried out as the date for the CEPA to take effect," he said in a virtual press conference, Monday, July 4.

On that occasion, Djatmiko said Indonesia's mainstay exports to the UAE were gold jewelry, palm oil, automotive vehicles, footwear, iron and steel, paper and wood raw materials, chemical derivatives such as soap, butter, tires, and batteries.

CEPA Becomes the Entrance for Indonesian Products

The Indonesia-United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA) was signed by the trade ministers of the two countries on Friday, July 1, 2022.

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, the agreement for the Indonesia-United Arab Emirates Comprehensive Economic Partnership is 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. .