Indonesia and Canada Seal ICA-CEPA Deal, Witnessed by Prabowo and Carney

Ottawa: The Indonesia-Canada Comprehensive Economic Partnership Agreement (ICA-CEPA) was officially approved and witnessed by President Prabowo Subianto and Canadian Prime Minister Mark Carney. The event was held on Parliament Hill in Ottawa on Wednesday, September 24, 2025.

The signing was conducted by Indonesian Trade Minister Budi Santoso and Canadian International Trade Minister Maninder Sidhu.

In his remarks, Prime Minister Mark Carney emphasized that ICA-CEPA is Canada's first bilateral trade agreement with an ASEAN member country. This agreement is a significant step in addressing trade barriers and expanding economic ties between the two countries.

"Once fully implemented, this agreement will reduce or eliminate more than 95 percent of current tariffs on Canadian exports to Indonesia," said Carney, as quoted from Prime Minister of Canada office.

Carney also emphasized that this trade agreement, which will come into effect in 2026, is believed to be able to increase Canadian exports to Indonesia. Furthermore, it will open broader access for Canadian workers and businesses to invest in the Indonesian market.

"This is a partnership that will mobilize more than $800 million in private capital for Canadian exporters and investors in various priority sectors, from infrastructure, digital services, renewable energy, to advanced manufacturing," he explained.

Understandably, the implementation of the ICA-CEPA is projected to increase Indonesian exports to Canada to USD11.8 billion by 2030. It will also increase GDP growth by 0.12 percent.

Beyond economic benefits, the ICA-CEPA also provides greater legal certainty for businesses, including regulatory transparency, investment protection, and a commitment to empowering MSMEs, digital marketplaces, intellectual property rights, and sustainable trade.

At least 17 people were killed and many more are missing in Taiwan after a lake burst on Tuesday, causing severe flooding in the eastern region of the island.

Ragasa was downgraded from a super typhoon to a severe typhoon on Wednesday, but remained highly destructive, with maximum wind speeds of 241 km/h recorded in Taishan County in southeastern China's Guangdong Province.

Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year and has been raging in the South China Sea for days.