Indonesia vows to open 65 percent of market after RCEP

Jakarta (VNA) – Nearly 65 percent of the Indonesian market will be opened to partner countries once the Regional Comprehensive Economic Partnership (RCEP) takes effect, the Indonesia-based Antara News quoted an Indonesian official as reporting.

The Indonesian market will gradually be opened to partner countries after negotiations on the agreement are concluded in 2020, Director of ASEAN Negotiations of the Directorate General of International Trade Negotiations of the Indonesian Trade Ministry Donna Gultom told a discussion entitled "RCEP Hopes Investment" in Jakarta earlier this week.

The percentage will increase in the next 10 years, 15 years and later 20 years when 89.5 percent of our markets will be opened, she said.

The Indonesian government will make the maximum effort to put several types of goods or commodities on the highly sensitive list or even exclusion list during free trade with partner countries, she said.

There is eight percent in the exclusion list where Indonesia is not committed to opening its market to all countries and several percent where Indonesia will not open its market to several specified countries, she noted.

The sensitivity of each country is different from one another but Indonesia assure that access to the domestic market will reach 89.5 percent compared to that of other countries at an average of 90 percent, she added./.