Toronto, December 6, 2024
In a joint statement, the Minister of Export Promotion, International Trade and Economic Development of Canada, Ms. Mary Ng, and the Minister of Trade of the Republic of Indonesia, Mr. Budi Santoso, announced on December 2, 2024, that the two governments have concluded the bilateral trade negotiations for the Canada-Indonesia Comprehensive Economic Partnership Agreement (“the CEPA”).
Canada and Indonesia enjoy strong commercial relations. Indonesia is Canada’s 22nd largest merchandise trading partner with two-way merchandise trade totalling $5.1 billion in 2023. Last year, Canadian merchandise exports and imports were valued at $2.3 billion and $2.8 billion, respectively.
A comprehensive trade agreement between Canada and Indonesia will facilitate new opportunities for Canadian business by:
- eliminating or reducing tariff and non-tariff barriers
- enhancing access to Southeast Asian supply chains
- establishing a more transparent and predictable environment for trade and investment
The new agreement is expected to take effect in 2026.
For more information, please call Brian Rowe, Director – Customs Compliance & Regulatory Affairs at (905) 882-4880, ext. 1213.
