A European Union official has said that Indonesia might lose a fifth of its exports to the region annually if talks over a bilateral Comprehensive Economic Partnership Agreement hit a wall, The Jakarta Post reported.
According to the EU, the losses would come as Indonesian products become less competitive than that of its ASEAN peers, such as Singapore and Vietnam, both of which have effective free trade agreements with the EU.
The loss would also come as the EU excludes Indonesia from its Generalised Scheme of Preferences (GSP) – a preferential tariff reduction on various products given to developing countries.
Read the full report: The Jakarta Post
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