Preferential Trade Agreements And Its Impact To International Trade Law Policy of Indonesia: A Study Of The Regional Comprehensive Economic Partnership.

Abstract

Covid 19 brings catastrophic effects not only to the health
sector but also other sectors. There is a huge economic turmoil
around the world. However, new hopes emerged in the world of
international trade, especially in the Southeast Asia region with the
signing of the Regional Comprehensive Economic Partnership
(RCEP). RCEP is currently the largest free trade agreement in form
of Preferential Trade Agreement. The agreement is considered as a
multilateralism that developed in the right direction for the global
economy and is the latest progress for the world community. Some
say that this will create opportunities as well as challenges in its
application for Indonesia in the future. Therefore, this study aims to
examine juridically from the view of preferential trade agreements
about the contents of the RCEP and its application to Indonesia,
especially legal policies that can be taken related to its
implementation in the future. It also examines the steps and
strategies that can be taken by Indonesia to seize opportunities and
face challenges due to the implementation of this RCEP in the near
future. By using normative legal research method, the author found
that the RCEP fulfill its requirements as preferential trade
agreement and therefore its application must through national
legalization program and comprehensive trade policy. Indonesia can
use the RCEP to expand its trade reach and as a means of
diversifying its products overseas. In addition, Indonesia should
intensify their supervision of products that enter their country
through various existing channels to deal with the flood of foreign
products entering the country because of the RCEP.
Keywords: International Trade Law, Preferential Trade
Agreements, RCEP