President of Indonesia, Prabowo Subianto, recently announced the successful conclusion of the Comprehensive Economic Partnership Agreement (CEPA) negotiations between Indonesia and the European Union. After a decade of negotiations, the agreement is being celebrated as a significant breakthrough that will provide Indonesian products and commodities with broader access to the EU market.
During his meeting with European Council President António Costa in Brussels, Prabowo described the agreement as a historic milestone. He highlighted that all contentious trade items have now been addressed and resolved, marking the establishment of a free trade agreement between Indonesia and the European Union.
Prabowo expressed his satisfaction with the outcome, stating that almost all items have been agreed upon with no outstanding issues. He emphasized the potential for greater European participation in Indonesia’s economy, as well as the country’s readiness to further engage with the EU economy.
The President underscored the mutually beneficial nature of the partnership, noting that while the EU brings expertise in science, technology, finance, and management, Indonesia provides essential resources and strategic agricultural commodities. He hailed this symbiotic relationship as key to maximizing the benefits of the strategic agreement.
Prabowo also commended the EU’s commitment to global peace and stability, emphasizing the need for deeper cooperation in a multipolar world. The CEPA agreement is expected to lay the groundwork for enhanced economic, trade, and investment collaboration between Indonesia and the EU, ushering in a new phase of strategic bilateral relations.
Overall, the successful conclusion of the CEPA negotiations marks a significant step towards increasing economic ties and fostering mutual prosperity between Indonesia and the European Union.
