JAKARTA, Aug 9 (Bernama-Xinhua) — Indonesia and Japan signed amendments to the Indonesia-Japan Economic Partnership Agreement (IJEPA) during a video conference on Thursday, reported Xinhua.
The agreement, signed by Indonesia’s Trade Minister Zulkifli Hasan and Japan’s Foreign Minister Yoko Kamikawa, aims to enhance trade exports between the two nations.
Following the implementation of these changes to IJEPA, Indonesia’s exports to Japan are projected to increase by an average of 11.6 per cent per year, and exports to Japan are predicted to rise to US$36 billion by 2028, Hasan said.
The amended agreement also opens new avenues for Indonesian workers to enter the Japanese job market, not only in the nursing and manufacturing sectors but also in real estate, banking, and transportation.
The ratification of the amendments is anticipated to be completed by 2025. Key changes included enhanced commitments in goods trade, services, and e-commerce.
IJEPA, which has been in effect since 2008, is Indonesia’s first bilateral trade agreement with Japan and requires a review every five years.
–BERNAMA-XINHUA