ASIATODAY.ID, JAKARTA – Indonesian Minister of Trade, Zulkifli Hasan confirmed that the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU CEPA) negotiations will be completed before October 20 2024.
“Hopefully the IEU CEPA negotiations will be completed before October,” said Zulkifli in Jakarta, Friday, May 31 2024.
The Indonesian government will continue to pursue so that the IEU CEPA negotiations can be completed on target. The plan is that this June it is hoped that further negotiations will take place.
“At the beginning of June, follow-up negotiations will be held in Indonesia. I ask that they be completed before October 20,” he said.
The IEU CEPA negotiations aim to open trade between Indonesia and the European Union. Both will benefit economically through increasing real gross domestic product.
The results of a study from the Center for Strategic and International Studies (CSIS) stated that there is potential for real gross domestic product growth to reach 0.10 percent, as well as a potential income effect of increasing US$ 2.8 billion for Indonesia. Indonesia’s exports to the European Union also have the potential to increase by 57.76 percent.
Meanwhile, Deputy for Coordination of International Economic Cooperation at the Coordinating Ministry for the Economy, Edi Prio Pambudi, said that Indonesia and the European Union had agreed on 11 issues out of a total of 21 issues in the 18th round of IEU CEPA negotiations.
The agreement covers Customs and Trade Facilitation, Trade Reemedies, Economic Cooperation and Capacity Building, Technical Barriers to Trade (TBT), Sanitary and Phytosanitary, Small End Medium Enterprises, Dispute Settlement, Institutional and Final Provisions (IFP), and Transparency.
Then other issues include Good Regulatory Practices and Sustainable Food System (SFS).
Indonesia-European Union cooperation negotiations have been going on for quite a long time because the standards set by the European Union are always changing.
The Indonesian government itself has emphasized to the European Union to set clear and the same standards or goal settings in every negotiation. (ATN)
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