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Indonesia, Norway agree to enhance economic cooperation - BeritAja

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Jakarta (BERITAJA.COM) - The Indonesian and Norwegian authorities have agreed to enhance cooperation in various aspects of the economic sector, including through the Indonesia–European Free Trade Association Comprehensive Economic Partnership Agreement (Indonesia–EFTA CEPA) agreed upon in 2018.

The commitment was conveyed during the recent meeting between the Coordinating Ministry of Economic Affairs' Expert Staff on Connectivity, Service Development, and Natural Resources, Dida Gardera, and the Norwegian Deputy Foreign Minister Erling Rimestad.

"We agree to continue enhancing the implementation of the agreement, including by organizing dissemination activities for domestic stakeholders to increase trade and investment cooperation," Gardera said in a statement here on Sunday.

One of the aspects of cooperation specifically discussed during the meeting is the implementation of digital trade, which is consistent with Indonesia's efforts to promote digital transformation.

The two countries also discussed sustainable trade and development, which Indonesia committed to supporting as conveyed in various documents, such as the Enhanced Nationally Determined Contribution (ENDC) on climate change and the National Middle-Term Development Plan (RPJMN).

"The most important thing is that Indonesia's legal products are supportive of sustainable development issues, including through the inclusion of a carbon tax in Law No. 7 of 2021 on Tax Regulation Harmonization and Law No. 4 of 2021 on Financial Sector Development and Enhancement," Gardera stated.

Meanwhile, the two sides also discussed Indonesia's regulations on legal certification, which could affect Norwegian imports to Indonesia.

In response, Gardera said that Indonesia is currently undergoing policy reform, which includes changes to the legal certification mechanism.

"We also discuss the latest regulation on a thorough test on transparency and human rights aspects of a business process in Norway, as Indonesia is now developing a policy of business management and human rights," the ministry official said.

The meeting also discussed foreign trade agreements (FTA) between Indonesia and other parties, palm oil issues, and carbon trade, particularly in the agriculture sector, as well as the maritime sector, primarily in transportation and logistics.

Indonesia and Norway also discuss the negotiation progress of the Indonesia-European Union Comprehensive Economic Partnership Agreement (Indonesia-EU CEPA), which entered its 13th round last February and is expected to be completed later this year, and the ongoing Indo-Pacific Economic Framework (IPEF) negotiations in Bali.

At the conclusion of the meeting, both sides agreed to continue enhancing communication to address common issues.

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