Indonesia-Chile Encouraged Cooperation in the Field of Trade and Fishery

Denpasar, 30 October 2018: The Minister for Foreign Affairs of the Republic of Indonesia, Retno L.P. Marsudi and the Minister for Foreign Affairs of Chile, Roberto Ampuero, agreed to enhance bilateral cooperation between the two countries. The Comprehensive Economic Partnership Agreement between the Government of Indonesia and the Chilean Government (IC-CEPA), which is the first trade agreement between Indonesia and the countries in the South American region, is expected to be implemented in the near future and can be the basis to improve the relations in the field of trade between the two countries.

This first bilateral meeting between the two Foreign Ministers, which was done on the sidelines of the OOC Meeting on 30 October 2018, also discussed issues related to maritime cooperation and multilateral and regional cooperation as the common concern. Both Ministers agreed to support the multilateralism system in the field of interstate relations including the trade relations.

During his visit, Foreign Minister Ampuero and the Indonesia's Minister for Maritime Affairs and Fisheries were also scheduled to sign Memorandum of Understanding on Fisheries and Aquaculture Cooperation that was the basis for enhancing bilateral cooperation related to IUU Fishing countermeasures and aquaculture development.

Chile is one of Indonesia's largest trading partners in the South American region with the total trade value of Indonesia-Chile in 2017 amounted to USD 274 million.

The Comprehensive Economic Partnership Agreement between the Government of Indonesia and the Chilean Government (IC-CEPA) was the first trade agreement between Indonesia and the countries in the South American region. This time, IC-CEPA, especially a Goods Trade Agreement, is in the ratification process by both countries. (MoFA RI)