China and Indonesia welcome new opportunities for economic and trade cooperation
According to China's Ministry of Commerce, the Regional Comprehensive Economic Partnership (RCEP) took effect in Indonesia on Jan 2, bringing the number of RCEP members in effect to 14 out of the 15 members of the CEPA. After the RCEP goes into effect for Indonesia, China and Indonesia will mutually implement the RCEP tariff rates in accordance with the commitments of the RCEP agreement.
Under the RCEP, based on the China-Asean Free Trade area, Indonesia has granted zero tariff treatment to over 700 additional Chinese products, including some auto parts, motorcycles, televisions, clothing, shoes and plastic products. Among them, some auto parts, motorcycles, some clothing products and other products will be immediately zero-tariff from January 2, and other products will be gradually reduced to zero-tariff within a certain transition period.