Canada Indonesia Free Trade Agreement

Indonesia is Southeast Asia`s largest economy, a G20 member with a strong long-term macroeconomic foundation and strong economic potential. Indonesia is our largest export market in the ASEAN region and despite a slowdown in 2016 (low commodity prices, completion of a large aircraft contract, late season), bilateral trade and Canadian exports reached a new high in 2018. This is due to increased exports of cereals, pulp and fertilizers. In 2018, goods exports were valued at $2.14 billion ($1.72 billion in 2017; $1.45 billion in 2016). Imports of goods were valued at $1.75 billion ($1.73 billion in 2017 and $1.62 billion in 2016). Bilateral trade reached $3.9 billion in 2018 (compared to $3.46 billion in 2017; $3.07 billion in 2016). Canada is currently conducting exploratory discussions on bilateral or multilateral free trade agreements with the following countries and trading blocs, although formal negotiations have not yet begun:[7] We are not the only ones who believe that the time has come to reach an agreement. Studies by the Canadian Asia-Pacific Foundation in early 2018 showed that 63% of Canadians support a free trade agreement with ASEAN, up from only 40% in 2014. Support for a similar agreement with China was only 59%. Note: To view the PDF version of a document, you may need Acrobat Reader, available for free by Adobe or any other software that can display PDF files. An accessible version of Acrobat Reader, which contains support for screen-reading programs, is also available. Alternatively, you can convert a PDF file into html or ASCII text using one of Adobe`s conversion services.

Even before formal diplomatic relations were established in 1952, Canada and Indonesia had positive relations. In 1948, the diplomatic efforts of Canada`s ambassador to the United Nations, General Andrew McNaughton, helped to end the deadlock in negotiations between Indonesia and the Netherlands, its former colonial power, and pave the way for international recognition of Indonesia`s sovereignty in December 1949. Since then, Canada and Indonesia have maintained a strong partnership in many areas, including trade and investment, good governance, human rights, poverty reduction and capacity building in security and counter-terrorism. More dramatically, Australia`s trade with ASEAN countries increased by 9% in 2017 compared to 2016, reaching $100 billion.

Posted in Uncategorized