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Indonesia, Canada push for CEPA implementation, expand strategic investment

According to Indonesia’s Coordinating Ministry for Economic Affairs, once in force, the ICA-CEPA is expected to promote cooperation in areas including food security, energy and critical minerals.

Jakarta (VNA) – Indonesia and Canada are accelerating efforts for the full implementation of the Indonesia–Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) while expanding cooperation in food, energy, critical minerals and investment.

Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto met with Canadian Prime Minister Mark Carney on September 16 on the sidelines of the Canada Investment Summit in Toronto to promote bilateral trade and investment ties, the Indonesian news agency ANTARA reported.

Airlangga welcomed the completion of the ratification process for the ICA-CEPA, expressing his hope that the agreement will soon enter into force, enabling businesses from both countries to capitalise on new opportunities.

Indonesia stands ready to become a strategic partner of Canada and expand cooperation in areas where both countries have strengths, he stressed.

According to Indonesia’s Coordinating Ministry for Economic Affairs, once in force, the ICA-CEPA is expected to promote cooperation in areas including food security, energy and critical minerals.

The two sides also discussed potential investment in potash for fertiliser production, oil and gas cooperation, and the development of secure and sustainable critical mineral supply chains.

Indonesia also proposed expanding bilateral collaboration in nuclear energy, including the development of a small modular reactor (SMR) ecosystem, to support its long-term energy security strategy.

The two sides also discussed Indonesia’s role as ASEAN’s largest economy and its potential to become one of Canada’s key partners in strengthening the North American country's economic presence in the Indo-Pacific region.

The meeting followed a phone call between Indonesian President Prabowo Subianto and PM Mark Carney in June, during which they agreed to expand trade and investment ties./.

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