Bisnis.comJAKARTA- Indonesia and Canada reached an agreement to launch a global collective agreement.

This is the start of growing economic, trade and investment cooperation between the two countries.

The agreement between the two countries is the result of joint efforts Ministry of Foreign Affairs and Department of Commerce in strengthening international trade agreements.

This is written in a statement from the Ministry of Foreign Affairs, Tuesday (22/6/2021),

The evaluation process began in early 2020 with several meetings between Global Affairs Canada and the Indonesian Embassy in Ottawa.

The preliminary meeting discussed various issues, including trade in goods and services, investment and employment, which are of interest to both countries. Also discussed are global issues that are explored for integration into the context of trade.

Indonesia is Canada’s third largest trading partner in Southeast Asia. Indonesia’s import value from Canada is US$1.62 billion and export value to Canada is US$789.05 million in 2020.

Indonesia is also Canada’s largest foreign direct investment destination in the Southeast Asian region. The number of registered projects is 255, with a total investment value of over US$175.3 million through the end of 2020.

The Ministry of Foreign Affairs is committed to continue to enhance synergies with the Ministry of Commerce in overseeing various trade and investment negotiations. This decision aims to support the acceleration of the national economic recovery.

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