As Indonesia`s initial offer is still not relevant, EFTA requests Indonesia to submit a higher offer than the Uruguay Round (GATS plus), in particular with regard to market access for mode 3 foreign equity partnerships, which is close to the applicable rules of the Negative Investment List (NID). The services sectors of interest to EFTA are the economy, telecommunications, energy, finance and maritime transport. As regards financial services (insurance) in particular, EFTA calls on Indonesia to also open up cross-border supply (Mode-1). The sectors concerned should be able to increase their supply during the next negotiations. For modus 4, EFTA calls for easy access to the Indonesian market for the assembly and maintenance of machinery (installers and maintenance machines). Assuming an increase in the productivity of several key sectors under CEPA, including trade in goods, trade in services, investment and economic cooperation, Indonesia will benefit from an increase in welfare of $10.6 billion, with GDP growth of 4.37%. Fourthly, the creation of a package of economic forces. The concept of the Economic Strength Package is cooperation between Indonesia and Australia, leveraging each country`s advantages to address markets in the region or third countries. As in the processed food industry, produced from meat imported from Australia and processed in Indonesia for the Middle East. Indonesia and Australia have already concluded a free trade agreement (NAFTA) under the ASEAN-Australia-New Zealand Free Trade Agreement (NAFTA). AANZFTA has 12 countries and has been in force since 2012. RCEP was initiated by Indonesia when it became President of ASEAN in 2011 in order to consolidate itself in order to reduce the overlaps between the many free trade agreements (FTA) today.
In addition, RCEP was established with the aim of creating a modern, comprehensive, high-quality and mutually beneficial economic partnership between ASEAN member states and ASEAN partner countries. RCEP comprises a total of 16 countries, consisting of 10 ASEAN member countries and 6 ASEAN-FHA partner countries (China, Japan, India, Australia, New Zealand and Korea). More broadly, IA-CEPA is defined as the Comprehensive Economic Partnership Agreement between Indonesia and Australia. The partnership is based on the principle of mutual benefit and aims to strengthen economic relations between the two countries. The ratification of Law No. 1/2020 increases the LIST of CEPA held by Indonesia with the creation of IA-CEPA. Ia-CEPA certainly means a comprehensive partnership in the areas of trade in goods, services, investment and economic cooperation. . . .