Indonesia, South Korea Deepen Trade Ties to Boost MSME Exports Under IK-CEPA
Jakarta. Indonesia and South Korea are strengthening cooperation under the Indonesia–Korea Comprehensive Economic Partnership Agreement (IK-CEPA) to boost bilateral trade, investment, and MSME export capacity.
The agreement, which officially took effect on January 1, 2023, followed nearly eight years of negotiations since talks began in 2012 and was signed in 2020.
Deputy Trade Minister Dyah Roro Esti said on Friday that her meeting with South Korea’s Deputy Prime Minister Koo Yun Cheol in Jakarta focused on strategies to accelerate the utilization of IK-CEPA and support the ministry’s flagship export initiative, UMKM Bisa Ekspor (“MSMEs Can Export”).
“The IK-CEPA is not just a trade deal, it’s a comprehensive framework that strengthens collaboration in goods, services, investment, and human resource development,” Roro said.
The agreement also includes capacity-building programs in technology and innovation to improve competitiveness between both nations.
During the meeting, Roro presented Ijen coffee from East Java as a token of appreciation to Koo Yun Cheol, underscoring Indonesia’s readiness to expand its coffee exports.
“South Koreans love coffee, and this is our way of showing that Indonesian coffee meets international standards and is ready to go global,” she said.
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