CEPA will Enable the Resource-rich Country to Open its Auto and Steel Markets to KoreaComprehensive Economic Partnership Agreement (Cepa) • February 5th, 2014
Contract Type FiledFebruary 5th, 2014Korea and Indonesia are expected to conclude a Comprehensive Economic Partnership Agreement (CEPA) within this year. The two nations dis- cussed their respective interests during their fifth round of talks in September, and agreed to sign the agreement by the end of the year when Kore- an President Park Geun-hye met with Indonesian President Susilo Bambang Yudhoyono in October for a summit in Indonesia. Afterwards, the two countries completed negotiations on concessions during a sixth round of talks in Bali at the begin- ning of November. If concluded, the CEPA would allow Korea to have deeper economic coopera- tion with the largest economy in ASEAN, a coun- try with a population of over 250 million, a GDP of USD 900 billion, and abundant natural resources.