Indonesia about to form a Free Trade Agreement (FTA) With the EU in 2017
Minister of Trade Thomas Lembong said Indonesia now focuses on forming Free Trade Agreement (FTA) with European Union (EU) before it prepares to join Trans Pacific Partnership (TPP)
Thomas said government wants to resume its intention to form FTA with EU that briefly stopped because of presidential election. According to Thomas, government has prepared all procedures needed to form the FTA.
"It is very important and we have prepare the procedure and the process. So we only need to resume the process," Thomas said in Jakarta, Tuesday (11/24/2015).
Thomas added decision to resume the process made by President Joko Widodo half a month ago. Indonesia has two years to hold negotiation to form FTA with EU.
"So we will hold negotiation in 2016 until 2017 then forming the FTA in the end of 2017," he said.
Tom continued that the establishment of FTA with EU is one of the conditions to join TPP. He thought Indonesia has 60-70 percent chance to join TPP after it forms FTA with EU.
"So it is logical to fulfill that first. So gap between Europe and TPP will not be far," he explained.