United Arab Emirates - Indonesia Comprehensive Economic Partnership Agreement
The United Arab Emirates- Indonesia Comprehensive Economic Partnership Agreement entered into force in September 2023. It provides for the elimination of tariffs for the following goods, among others:
- Electric generation equipment
- Mechanical equipment including pumps, appliances, and other advanced machinery
- Electric motors, transformers, batteries, and capacitors
- Motor vehicles
- Mineral ore and processed products including manganese, copper, aluminium, and nickel
- Various products manufactured using above minerals and metals such as sheets, powders, bars, and plates
- Photovoltaic cells
The Agreement also includes rules of origin requiring goods to be wholly produced/manufactured in one of the signatory countries, and imported directly from one into the other. Significant production process need to have occurred in one of the signatory countries, with local production costs representing the equivalent of at least 35% of the value of the good and qualifying value content amounting to no less than 40% of the FOB value.
Want to know more about this policy ? Learn more