Japan and Indonesia Commit to Trade Barrier Removal in Updated Agreement

Japan and Indonesia are expanding trade cooperation and reducing tariffs on various goods under an amendment to the Indonesia-Japan Economic Partnership Agreement.

Agreement to Lift Trade Barriers

Japan and Indonesia have agreed to lift trade barriers and deepen collaboration in various fields, as announced by Indonesia’s Foreign Minister Retno Marsudi. This new agreement comes under the framework of an amendment to the Indonesia-Japan Economic Partnership Agreement (IJEPA), a bilateral investment and trade treaty signed in 2007. The amendment seeks to achieve “a mutually beneficial economic partnership between Japan and Indonesia, by further facilitating the expansion of existing trade and economic cooperation”, according to a joint ministerial statement.

Tariff Reductions and Trade Cooperation

According to the Japan External Trade Organization (JETRO), Japan will reduce tariffs…