Indonesia and Japan have recently agreed on key amendments to their Economic Partnership Agreement (IJEPA), aiming to strengthen trade relations and promote economic growth between the two nations. These positive changes are set to reduce or eliminate various trade barriers, paving the way for increased collaboration and mutual prosperity.
One of the significant updates includes Japan's commitment to lowering import tariffs on 112 Indonesian products, such as fishery items, fruit, food, and beverages. This move is expected to open new opportunities for Indonesian exporters, allowing them to tap into the Japanese market more effectively.
On the other side, Indonesia will improve market access for 25 Japanese products, focusing on sectors like stainless steel and automotive. These enhancements will not only support the growth of these industries in Indonesia but also reinforce the economic partnership between the two countries.
With these amendments, Indonesia’s exports to Japan are projected to experience a substantial increase, potentially reaching $35.9 billion by 2028, up from $20.8 billion in 2023. This positive outlook reflects the beneficial impact of the revised agreement on trade relations.
Moreover, the new pact will also see an extension of employment opportunities for Indonesian nurses and caregivers in Japan, with discussions on further liberalizing worker movements in other professions. These developments underline the strong commitment of both nations to fostering a vibrant and dynamic economic relationship.
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