Jakarta – The Minister of Trade, Budi Santoso, announced that the Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) will be implemented in 2026. The agreement is planned to be signed in mid-2025.
Budi stated that both countries have agreed on several points in the agreement. This announcement was made during the APEC Summit on November 15, 2024.
“The Indonesia-Canada CEPA negotiations have been substantively concluded and were announced by both Heads of State during the APEC Summit on November 15, 2024, in Lima, Peru. Both countries agreed that the agreement can be signed in mid-2025, with implementation expected in 2026,” said Budi at Hotel Mulia Jakarta on Monday (December 2, 2024).
Budi explained that Indonesia and Canada signed a Joint Ministerial Statement today, marking the conclusion of the ICA-CEPA negotiations. The signing was done by Minister Budi Santoso and Canada’s Minister for International Trade, Export Promotion, and Economic Development, Mary Ng.
He mentioned that two memoranda of understanding (MoUs) had been agreed upon by both countries. These MoUs cover cooperation in critical minerals and cooperation in sanitation and bio-sanitation.
“Minister Mary Ng and I have signed the Joint Ministerial Statement marking the conclusion of the Indonesia-Canada CEPA negotiations. There are two MoUs as part of the ICA-CEPA, namely the Critical Minerals Cooperation and Sanitation and Bio-sanitation Cooperation, which were also signed by the Indonesian and Canadian governments,” Budi explained.
He also encouraged Indonesian business players to take advantage of this opportunity, as the agreement will be one of the efforts to expand Indonesia’s market into North America.
“I urge business players from both countries to make the most of this positive momentum and collaborate to generate tangible benefits for their communities,” Budi added.
