World

Indonesia, European countries agree to remove tariff barriers

Indonesia and the European Free Trade Association (EFTA) on December 16 signed a bilateral agreement to boost trade and investment cooperation after nearly eight years of negotiations.
Indonesia, European countries agree to remove tariff barriers ảnh 1Illustrative image (Source: http://trade.ec.europa.eu)

Hanoi (VNA) - Indonesia and theEuropean Free Trade Association (EFTA) on December 16 signed a bilateralagreement to boost trade and investment cooperation after nearly eight years ofnegotiations.

Under the agreement, Indonesia and the EFTA countries - Switzerland,Liechtenstein, Norway and Iceland - will remove tariff and non-tariff barriers onthousands of their exports.

Among the products, Indonesia’s palm oil will have full market access inIceland and Norway. Switzerland will also allow easier access of palm oilproducts of Indonesia to the country, but in limited quantities.

The Indonesian Ministry of Commerce said access to palm oil markets had prolongednegotiations between the country and the EFTA member nations for years. Thefirst round of negotiations took place in early 2011.

According to the ministry, both sides willbenefit from this agreement.

Major exports of Indonesia, such as seafood,coffee and textiles, will also enjoy preferential tariffs when entering the EFTAmember countries. In return, EFTA partners’ key products such as gold, pharmaceuticalsand dairy products will have easier access to the Indonesian market.

In 2017, Indonesia-EFTA import-export turnover hit 2.4 billion USD, of whichIndonesia enjoyed a trade surplus of 212 million USD. The EFTA countries invested621 million USD in Indonesia in the year.-VNA
VNA
#Indonesia #European Free Trade Association (EFTA) #EFTA member countries. export #import-export turnover #bilateral agreement #Vietnamplus #Vietnam News #Vietnam News Agency Indonesia
Follow VietnamPlus

Related News

Croatian Ambassador Dražen Margeta (R) presents his credentials to ASEAN Secretary-General Le Luong Minh (Photo: asean.org)

European countries hope for tightened ties with ASEAN

Croatian, Slovak, Bulgarian, and Swiss Ambassadors to the Association of Southeast Asian Nations (ASEAN) presented credentials to ASEAN Secretary-General Le Luong Minh on December 2, affirming their Governments’ commitments to closer ties with the bloc.

See more

Floodwaters cover roads and residential areas in Jakarta following heavy rainfall on January 12, 2025. (Photo: www.jakartadaily.id)

Indonesia: Jakarta inundated after heavy rains

The Jakarta Disaster Mitigation Agency, known locally as Badan Penanggulangan Bencana Daerah or BPBD Jakarta, recorded flooding in eight neighborhood units, or rukun tetangga, in South Jakarta and two in North Jakarta as of 10:00 am local time, with water levels ranging from 20 cm to 95 cm.

Fire destroys one of the 11 PTT petrol stations that were attacked across three southern border provinces on January 11 (Photo: bangkokpost.com)

Thailand imposes curfew in southern province

The Thai military confirmed that multiple petrol stations in Thailand's southern border provinces were hit by arson attacks and explosions on late January 11, leaving one police officer injured, with five petrol stations in Narathiwat among the targeted sites.

A photo of Lirang Island in the newly designated marine conservation area by the Ministry of Marine Affairs and Fisheries in the waters of West Wetar (Photo: antaranews.com)

Indonesia establishes new marine protected area

This area forms part of a vast ecosystem and serves as an important migratory corridor for many large marine species. The move aims to safeguard high-value biodiversity while ensuring the long-term sustainability of local coastal livelihoods.

Semiconductor wire production at an industrial park in former Hoa Binh province (now Phu Tho province). (Photo: VNA)

Vietnam’s GDP growth impressive amid global headwinds: Chinese media

It said with these results, the Vietnamese Government still has ample room to adjust monetary policy, unleash market vitality, and push ahead with institutional reforms. This, the paper noted, could enable Vietnam to achieve double-digit economic growth during the 2026-2030 period.

A voter casts her ballot in the general election at a polling station in Yangon, Myanmar. (Photo: Xinhua/VNA)

Myanmar begins second round of general election

This is the first election in Myanmar since the military government assumed power five years ago. A total of 57 political parties are participating in the election, including six parties running nationwide, with around 5,000 candidates vying for seats in the parliament.

A healthcare worker performs a swab test on a patient during influenza symptom screening at a community health centre in Banten, on January 7, 2026. (Photo: antaranews.com)

Indonesia reports first death related to so-called super flu

Yovita Hartantri, head of the New and Re-emerging Infectious Diseases Team at Hasan Sadikin Regional Hospital in Bandung, said the hospital treated 10 patients with influenza A subclade K between September and November last year. The patients exhibited a range of symptoms, with at least three developing severe complications.

Thailand enters technical deflation: Expert

Thailand enters technical deflation: Expert

Associate Professor Thanavath Phonvichai, President of the University of the Thai Chamber of Commerce and Chairman of the Centre for Economic and Business Forecasting, attributed the current bout mainly to lower production costs, particularly cheaper fuel and persistently low agricultural prices.