Joint Ministerial Statement on the Launch of the Reactivation of

Negotiations for the Indonesia - Korea Comprehensive Economic

Partnership Agreement (IK-CEPA) i
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We, Minister of Trade of the Republic of Indonesia, Enggartiasto Lukita and Trade
Minister of the Republic of Korea, Hyun Chong Kim , met today on 19 February in
Jakarta, Indonesia on the occasion of the Indonesia- Korea Business Forum ;

Recalling the talks between the President of the Republic of Indonesia, His
Excellency Joko Widodo, and the President of the Republic of Korea , His
Excellency Moon Jae-in, on 10-11 September 2018 in Seoul, the Republic of
Korea where both leaders agreed to explore the possibility of reactivating the IK-
CEPA negotiations;

Considering the outcomes of the preliminary meeting of senior officials regarding

the reactivation of the IK-CEPA negotiations held on 12 February 2019, in Seoul,
the Republic of Korea;

Recognizing that the further strengthening of our closer trade and economic
partnership will bring economic and social benefits to both countries and improve
the living standards of our people;

Desiring to create favourable conditions that are conducive to expanding two-

way trade and investment and to maximizing the potential of the economic
relationship between the Republic of Indonesia and the Republic of Korea;

Acknowledging that the Comprehensive Economic Partnership Agreement

(CEPA) would serve as a platform toward a modern and dynamic economic
partnership that reflects the strong bond between the two countries;

Pursuant to the prevailing laws and regulations of the respective countries;

Hereby announce to launch the reactivation of negotiations for the IK-CEPA with
the understandings that:

a. the IK-CEPA should be of high quality, mutually beneficial and as

comprehensive as possible, covering trade in goods and services,
investment, economic cooperation and other areas to be agreed upon so
as to reach the economic goals set by governments of the two countries
by substantially increasing the volume of bilateral trade and investment to
the highest possible level ;
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! b. the IK-CEPA should be built upon the existing multilateral and regional
agreements as well as the outcome of negotiations between the Republic
of Indonesia and the Republic of Korea;

c. the IK-CEPA should be economically meaningful while recognizing mutual

interests and sensitivities the two countries may have; and

d. the eighth round of negotiations will be held on 29-30 April 2019 in Seoul
with the aim of reaching a conclusion as soon as possible by the end of
this year.

Done in Jakarta, Indonesia on the Nineteenth day of February, in the year of Two
Thousand and Nineteen, in two original copies.

FOR THE GOVERNMENT FOR THE GOVERNMENT

OF THE REPUBLI OF INDONESIA OF THE REPUBLIC OF KOREA

gartiasto LUKITA Hyun Chong Kim

Minister of Trade Trade Minister