Indonesia and the European Union have successfully concluded their negotiations for the Comprehensive Economic Partnership Agreement (CEPA) after a long and arduous process. This agreement will open up broader market access for Indonesian products in Europe. The breakthrough was announced during a joint press conference in Brussels, where Indonesian President Prabowo Subianto and European Commission President Ursula von der Leyen celebrated the milestone achievement. They highlighted the mutual benefits of cooperation and the complementary economic interests that were reconciled during the negotiations.
President von der Leyen expressed her appreciation for President Prabowo’s leadership in bringing the negotiations to a close and emphasized the significance of CEPA as an ambitious and timely free trade agreement with vast economic potential for both partners. The agreement will provide market access for Indonesian products in various sectors such as agriculture, automotive, services, and critical raw materials. It aims to strengthen supply chains for the energy and digital transitions, focusing on responsible sourcing that respects the environment and local communities.
With a combined market of 730 million people between Indonesia and the EU, the implementation of CEPA is expected to be a game changer in the trade relations between the two regions. President Prabowo expressed hopes that the implementation signing of the agreement could take place in Brussels as a symbol of long-term commitment between the two partners. It is indeed a significant milestone that will pave the way for increased economic cooperation and growth between Indonesia and the European Union.
