VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

Indonesia is targeting substantial conclusion to negotiations on the draft of the Comprehensive Economic Partnership Agreement (CEPA) with South Korea in October 2019, Trade Minister Enggartiasto Lukita stated.

"When it comes to CEPA negotiations, we have agreed to conclude the negotiations in 2019. We will also strive to substantially conclude the negotiations in October 2019," he remarked following a bilateral meeting with South Korean Trade Minister Yoo Myung-Hee on the sidelines of the 51st ASEAN Economic Ministers' Meeting (AEM) held in Bangkok, Thailand, on Monday.

Lukita expressed the belief that South Korea remained strongly committed to concluding the CEPA negotiations soon. Moreover, South Korea needs trade agreements with partner nations to boost exports and investment in the midst of the escalating bilateral trade dispute with Japan.

It is expected that the CEPA would serve as an umbrella of agreements to facilitate the planned investment expansion by South Korean chemistry company Lotte Group and automotive company Hyundai, he stated.

"We know South Korea has two large industries, specifically Lotte Group operating in the chemical industry and Hyundai engaged in the automotive industry," he stated.

Minister of the South Korean Embassy in Jakarta Jeon Joyoung expressed his belief that the CEPA would be able to boost trade between both nations to nearly US$30 billion in 2022.

"During (the South Korean) president's visit to Indonesia in 2017, the two leaders agreed to develop trade volume to over US$30 billion in 2022, and expectations ride high on CEPA making it easy to achieve," Joyoung remarked during an exclusive interview with Antara at the Wisma Antara building in Jakarta recently.

Since February 2019, the governments of both nations have held intensive discussions on the CEPA to optimally benefit both sides, he stated.

Both nations are expected to ink the IK-CEPA during the 30th ASEAN-Korea Commemorative Summit to be organized in South Korea in November 2019, he stated.

Data from the Central Statistics Agency (BPS) showed that total trade between both nations had reached US$18.6 billion in 2018, with Indonesia enjoying a surplus of $443.6 million.

South Korea is the seventh-largest destination for Indonesia's exports and the sixth-biggest source of Indonesia's imports.

Indonesia clocked exports worth $9.53 billion to South Korea in 2018, rising 14 percent, from $8.20 billion a year earlier. On the other hand, Indonesia's imports from South Korea had reached $9.1 billion, a nine percent rise, from $8.12 billion the year before.

Indonesia's exports to South Korea chiefly constitute coal, copper ore, natural rubber, plywood, and unforged tin, while its imports from South Korea comprise synthetic rubber, steel, and integrated electronic circuit. (ANTARA)

The first ever open space concert of classical music was held in Jakarta or even in Indonesia. The Concert entitled Konser Akbar Monas 2019 (Monas Grand Concert 2019), was held by Jakarta Simfonia Orchestra and Jakarta Oratorio Society at Southeast Park of Monas, Jakarta on Sunday night (Sept 8). The event was supported by the Jakarta Provincial Government. Chief Executive of the Monas Grand Concert, Timothy Siddik to reporters before the concert said the classical music concert was aimed to show the diversity of Indonesia to the world.

"We hope that the people abroad can see that Indonesia is a beautiful country, not only from one group of people, but from the diversity. If the beauty comes only from one color or one sound like music, it is only homogenous beauty. The diverse beauty results a very beautiful performance, said Timothy Siddik. 

Timothy Siddik also hopes that classical music can not only be enjoyed by certain groups, but also by the general public from various groups. Konser Akbar Monas 2019 featured at least 60 musicians and 100 singers from the Jakarta Simfonia Orchestra (JSO) and the Jakarta Oratorio Society (JOS). The concert which was held free of charge played Indonesian songs and European Classical musics of famous composers such as Beethoven, Mozart, Strauss and Suppe. Attending the concert were Jakarta Governor Anies Baswedan, Minister of Marine and Fishery Susi Pudjiatuti and some Heads of Representatives of friendly countries. (VOI/AHM)

Indonesia may play a mediatory role in the Japan-South Korea trade rift by urging them to begin contemplating a diplomatic settlement rather than continuing with retaliatory measures, Indonesian Trade Minister Enggartiasto Lukita stated in Bangkok, Thailand, Monday.

After attending a bilateral meeting with South Korea's Trade Minister Yoo Myung-Hee in Bangkok, Lukita noted that the trade rift between Japan and South Korea may have an adverse impact on the economic sector, both in the region and world.

"Without substantially intervening in the conflicts, we had spoken to our South Korean counterpart that the trade war may be undesirable for the global and regional economies, and the rift would benefit nobody," Lukita remarked on the sidelines of the 51th ASEAN Economic Ministers' Meeting (AEM).

The Trade Ministry's records showed that Japan and South Korea are close allies of Indonesia. By 2018-end, Indonesia's trade surplus with Japan had touched US$1.4 billion while that with South Korea had reached $451 million. However, during the January-June 2019 period, Indonesia had posted $441 million of trade deficit with South Korea.

On July 4, Japan had declared it will tighten controls on the shipments of three chemicals -- hydrogen fluoride, photoresists, and fluorinated polyamides -- to South Korea that were key materials for the production of semiconductors for South Korea's top electronics manufacturers, including Samsung.

Japan claimed that the restrictions were imposed over the belief that South Korea had leaked sensitive information to North Korea. However, South Korea refuted the accusations, as Japan had failed to furnish details to its claim.

While retaliating to Japan's move, South Korea had also boycotted Japanese beers and clothing brands. Moreover, in mid-August, the South Korean government had planned to exclude Japan from a list of trusted trading partners. (ANTARA)

 Indonesian Trade Minister Enggartiasto Lukita held bilateral talks with his Australian counterpart, Simon Birmingham on the sidelines of the 51st ASEAN Economic Ministers' Meeting (AEM) held in Bangkok, Thailand, on Sunday.

The meeting took place a few hours before ministerial negotiations on the Regional Comprehensive Economic Partnership (RCEP) multilateral economic agreement which has been under negotiations for several years.

RCEP which is still a draft free trade pact covers 16 countries which make up 40 percent of the global gross domestic product.

Heads of state/government from 16 RCEP member states have expressed the hope the substantial discussion of the pact could be concluded in November 2019. Australia is one of the 16 countries involved in RCEP and has great interests in this pact.

Lukita is scheduled to deliver the outcome of his bilateral talks with the Australian trade minister and ministerial meeting for RCEP on Sunday evening local time.

During the opening of the 51st AEM on Friday, Thai Prime Minister Prayut Chan-o-cha in the capacity as ASEAN Chairman underlined the significance of finalizing the RCEP agreement at the end of this year. He believes that the RCEP will promote closer and more stable economic, trade, and investment climate between ASEAN member states and their partners.

"The finalization of RCEP this year will reflect the trust of the region and dialog partners in synchronizing trade and investment," he stated.

RCEP agreement is also considered important to increase trade among countries in the region amidst the escalation of global trade tensions and potential global economic recession.

RCEP is an ASEAN-centered proposal for a regional free trade area that will initially include the 10 ASEAN member states and those countries that have existing free trade agreements (FTAs) with ASEAN: Australia, China, India, Japan, Republic of Korea, and New Zealand. (ANTARA)