The US Food and Drug Administration (FDA) announced new import certification requirements for shrimp and spices from Indonesia after cases of radioactive contamination were detected earlier.
Trade
Canada’s lumber could be headed for Southeast Asia—and not the United States—after International Trade Minister Maninder Sidhu signed a Comprehensive Economic Partnership Agreement (CEPA) with Indonesia late last week.
Timor Leste’s position as a “launchpad” to markets in Indonesia and northern Australia makes it an attractive destination for Malaysian investors, training institutions and media organisations, said Malaysian ambassador to Timor-Leste Datuk Amarjit Singh.
The EU and Indonesia have concluded talks on a trade deal and plan to sign it next week as they accelerate efforts to reduce their dependence on China and the US. European trade commissioner Maroš Šefčovič is scheduled to travel to Indonesia to ink the agreement on September 23, according to officials in Brussels and Jakarta.
Indonesia is seeking to attract Australian drugmakers with promises of cheaper clinical trials and faster approvals for new medicines as it pitches itself as an alternative to Donald Trump’s America where regulatory upheaval and a tariff war are putting off foreign firms.
Indonesia, Southeast Asia’s biggest economy and the world’s fourth most populous country, has an edge over its neighbours, the potential of its vast consumer market.
Indonesia will begin importing lithium from Australia to support its growing electric vehicle (EV) industry, Energy and Mineral Resources Minister Bahlil Lahadalia announced on Tuesday, as the country intensifies efforts to become a regional EV manufacturing hub.
The new trade arrangement reinstates access lost in 2018 and was previously estimated by industry at the time to be worth more than $100 million for Australian producers and exporters.
A top Indonesian official said South-east Asia’s largest economy is seeking zero per cent tariff from trade deals with the European Union, which has 27 member countries.
It is pumping hundreds of millions of dollars into KINETIK, that’s the Indonesian acronym for the Australia Indonesia Climate, Renewable Energy and Infrastructure Partnership program. The Electrum loan is part of KINETIK’s portfolio.
The deal eliminates ~99% of tariff barriers for a full range of U.S. industrial, food, and agricultural exports, unlocks new market access, and breaks down non-tariff barriers.
US President Donald Trump says he has struck a trade pact with Indonesia resulting in significant purchase commitments from the south-east Asian country, after negotiations to avoid steeper tariffs.
Indonesia’s official carbon exchange platform, IDX Carbon, has recorded nearly 1.6 million tons of carbon traded since its launch, with 90% of buyers coming from the domestic market.
The Indonesian government is considering implementing a new export levy on coal shipments, designed with a price-contingent mechanism that would only activate when coal prices reach certain thresholds.
The Indonesian and Australian governments held bilateral talks to enhance cooperation in the export and import of halal products between the two countries.
The deal, set to be signed on July 7, will mean Indonesia increases imports of US fuels and will see investment by Indonesian companies in energy and agriculture sectors in the US, according to the Indonesian Chief Economic Minister Airlangga Hartarto.
