Indonesia, EU sign long-awaited trade deal

Indonesia, EU sign long-awaited trade deal

The EU is Indonesia's fifth-largest trading partner with bilateral trade reaching $30.1 billion last year

<Indonesia, EU sign long-awaited trade deal - Economy - The Jakarta Post>

Inauguration of the AEC and Its Impacts on Relation between Singapore and Indonesia(38)

Comparative Research on Relationship of Singapore and Indonesia in the AEC Aspect

Besides, awareness of the importance of the AEC is not only high in the business sector but also considerably widespread among the general public in Singapore. This phenomenon may be associated with the unparalleled development career of the Singaporean economy. 

Actually, Singapore has been spotlighted to reap the biggest pie of the AEC as the United States has benefited the most in the time of the North American Free Trade Agreement (NAFTA).

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(38)

Comparative Study on the Perception and Response of Singapore and Indonesia

Larger firms tend to have better knowledge about the existing FTAs and, in general, are more optimistic than smaller ones. This is true also with regard to the AEC. Major players already have a good and comprehensive understanding about the AEC. 

The major players are large companies whose activities are related to export-import, foreign companies, and foreign affiliates or local companies that are involved in international production networks.

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(36)

Comparative Study on the Perception and Response of Singapore and Indonesia

Major players already have a good and comprehensive understanding about the AEC. The major players are large companies whose activities are related to export-import, foreign companies, and foreign affiliates or local companies that are involved in international production networks. 

However, the number of major players is very small and accounts for less than one percent of the total number of business establishments in Indonesia.

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia(34)

Advent of the Era of the AEC and Its Impacts on Singapore and Indonesia

Indonesia is one of the few countries in the ASEAN that has promulgated a competition law and has established an independent agency in charge of competition policy – the Commission for the Supervision of Business Competition. 

Larger firms tend to have better knowledge about the existing FTAs and, in general, are more optimistic than smaller ones. This is true also with regard to the AEC.