Indonesia and the European Union have finally concluded their Comprehensive Economic Partnership Agreement (CEPA) after a decade of negotiations. This breakthrough was announced by Indonesian President Prabowo Subianto during a joint press conference with European Commission President Ursula von der Leyen in Brussels on Sunday. The agreement signifies a significant achievement amid global uncertainties and opens up broader market access for Indonesian products in Europe.
Prabowo highlighted the successful reconciliation of previously differing economic interests between both parties, emphasizing the mutually beneficial nature of the cooperation. President von der Leyen commended Prabowo’s leadership in finalizing the negotiations and described CEPA as an ambitious and timely free trade agreement that recognizes the vast economic potential of Indonesia and the EU.
The CEPA will provide expanded market opportunities for Indonesian products in various sectors such as agriculture, automotive, services, and critical raw materials. Von der Leyen emphasized the EU’s commitment to not only securing but also ensuring socially and environmentally responsible supply chains through this agreement.
With a combined market of 730 million people, the implementation of CEPA is expected to be a game changer in trade relations between Indonesia and the EU. Prabowo expressed hope that the official signing of the agreement could take place in Brussels, symbolizing a long-term commitment between the two partners.
