South Korea on Friday signed the Comprehensive Economic Partnership Agreement with Indonesia.
‘CEPA’, as it is also known, will enable South Korean businesses to have access to the largest market in Asiaa population of around 270 million people.
The agreement allows South Korea to lift tariffs on 95.8 percent of products being traded with Indonesia, and Indonesia 94.8 percent.
Trade minister Sung Yun-mo met his Indonesian counterpart Agus Suparmanto in Seoul to sign the agreement eight years after talks first began.
This is South Korea’s third bilateral free tree agreement signed with an ASEAN member state after Singapore and Vietnam, and the first since the government announced its new Southern policy in 2017.

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