Taiwan, Indonesia sign MOU on fair trade competition

Taiwan has signed a memorandum of understanding (MOU) with Indonesia to work together toward fair market competition.(CNA)

TAIPEI (CNA) — Taiwan has signed a memorandum of understanding (MOU) with Indonesia to work together toward fair market competition, Taiwan’s Fair Trade Commission (FTC) said Tuesday.

The signing of the agreement had been scheduled to occur in Taipei in February but was postponed due to the COVID-19 pandemic, the FTC said in a press release.

The two sides therefore agreed to ratify the agreement remotely, with Indonesian Representative to Taiwan Didi Sumedi signing it in Taipei on March 19, and Taiwan’s representative to Indonesia, John C. Chen (陳忠), signing it in Jakarta on April 23, the FTC said.

According to the commission, the nine-part MOU covers notification guidelines, information exchange, technical cooperation, consultation mechanisms and agreements on the confidentiality of communications.

The FTC said it has a long history of cooperation with the Indonesia Competition Commission, which the agreement establishes as its counterpart.

Indonesia is the 10th country in the world to sign a fair trade MOU with Taiwan, following eSwatini, Australia, New Zealand, France, Mongolia, Canada, Hungary, Panama and Japan, the commission said.