As soon as this ambitious pact enters into force, it will create the world`s largest free trade area and have a considerable influence on the economic recovery of the entire bloc after the pandemic. As a wide-ranging free trade agreement, CEPA EFTA-Indonesia includes trade in goods, trade in services, investment, intellectual property rights, government procurement, competition, trade, sustainable development and cooperation. In the area of trade in goods, the EFTA States waive all customs duties on imports of industrial products, including fish and other seafood products, originating in Indonesia. Indonesia will phase out or reduce tariffs on industrial products, including fish and other seafood products, originating in an EFTA State. Chapter 3 closely follows the approach of the WTO General Agreement on Trade in Services (GATS). It covers trade in all services sectors among the four types of supply. Separate Annexes on the free movement of natural services (Annex IX), the recognition of qualifications of service providers (Annex X), the recognition of certificates and the training of seafarers on board ships registered in Switzerland (Annex XI), telecommunications services (Annex XIII), financial services (Annex XIV) and tourist and travel services (Annex XV) complete the chapter by adding sectoral complements to the disciplines. The lists of most-favoured-nation derogations and specific obligations of the Contracting Parties are set out in Annex VIII and Annex XII respectively. These schedules are regularly reviewed in order to further liberalise trade in services between the two parties. Rcep would minimize structural barriers by imposing rules and procedures on customs and trade-related infrastructure.

In practice, Indonesian companies would follow a set of procedures for trading with their RCEP partners instead of navigating different regulatory frameworks. This would inevitably result in greater ease of activity and enhance Indonesia`s attractiveness as a trade and investment objective. The EU is also implementing a number of projects to improve bilateral trade. The Trade Support Programme, for example, focuses on technical elements affecting trade flows between Indonesia and the EU: capacity building within the WTO for Indonesian officials, harmonisation of EU standards, improvement of technical laboratories. [11] Ensuring better access for EU exporters to the dynamic ASEAN market is an EU priority. Negotiations for an EU-ASEAN trade and investment agreement between the regions started in 2007 and were interrupted by mutual agreement in 2009 to become a bilateral negotiating format. This article concerns trade relations between Indonesia and the European Union. . . .