Indonesia, South Korea Progressing on Trade Deal

Indonesia and South Korea are drawing closer to signing an economic partnership agreement that will grant Indonesia better market access for its industrial, fishery and agricultural exports to South Korea, Indonesia’s Ministry of Trade said in a release Nov. 26, according to an unofficial translation. Negotiations were completed in October on the deal, which will also grant South Korea market access to the Indonesian “raw materials” sector, the agency said. The two countries signed a “Joint Declaration on Completion of the Indonesia-Korea Comprehensive Economic Partnership Agreement” on Nov. 25, saying they are now “one step closer” to ratifying the deal.