On Monday (Dec 2, 2024), Indonesia and Canada signed a Comprehensive Economic Partnership Agreement (CEPA) aimed at strengthening the economic relations between the two G20 member countries. The agreement comes three years after the initiation of negotiations and is set to take effect in 2026. The signing ceremony took place in Jakarta, with Indonesia's Minister of Trade Budi Santoso and Canada's Minister of Export Promotion, International Trade, and Economic Development Mary Ng representing their respective countries.

Minister Budi emphasized Indonesia’s appreciation for Canada's support in prioritizing critical mineral sectors, which are vital for the country's sustainable domestic growth. He stated that both countries aim to advance the sustainable management of critical minerals, support Indonesia's 2060 net-zero emissions target, and encourage Canadian investment while promoting green growth in both nations. Indonesia, rich in commodities like tin, copper, bauxite, and the world’s largest nickel ore reserve, is working to increase the value of these minerals by attracting investments in processing and electric vehicle battery production. In line with this, Indonesia has also made agreements with the United States and the United Kingdom to collaborate on the management of critical minerals.

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