EU, Indonesia Announce Political Agreement on Free Trade Deal
EU, Indonesia Announce Political Agreement on Free Trade Deal

EU, Indonesia Announce Political Agreement on Free Trade Deal

News summary

The European Union and Indonesia have reached a political agreement to advance a long-awaited free trade deal known as the Comprehensive Economic Partnership Agreement (CEPA), announced by EU Commission President Ursula von der Leyen and Indonesian President Prabowo Subianto. This agreement, the result of negotiations since 2016, aims to open new markets and boost trade and investment, particularly in key sectors such as agriculture, automotive, and services. Von der Leyen emphasized the untapped potential in the EU-Indonesia trade relationship, highlighting the deal's timeliness amid current global economic uncertainty and geopolitical volatility. The deal reflects the EU's strategy to strengthen ties with key partners worldwide in response to disruptions in global commerce under US President Donald Trump's trade policies. Both leaders expressed optimism that the agreement would create significant new opportunities, marking a decisive milestone in bilateral economic cooperation. The final conclusion of the deal is expected by September, with further negotiations to be led by EU trade chief Maros Sefcovic and Indonesia’s economic minister Airlangga Hartarto.

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