ASIATODAY.ID, JAKARTA – Negotiations on the Indonesia-European Union Comprehensive Economic Partnership Agreement (I-EU CEPA) have been held in 19 rounds in the last nine years, but until now an agreement has not been reached.
I-EU CEPA is a comprehensive bilateral trade agreement entered into by Indonesia with partner countries. In general, I-EU CEPA covers three main pillars, namely market access for trade in goods and services, investment and public procurement, harmonization of trade regulations, as well as cooperation and capacity building.
Most recently, the Coordinating Minister for the Indonesian Economy, Airlangga Hartarto, held a virtual meeting with EU Trade Commissioner Maros Sefcovic, on Thursday, February 13 2025. This meeting discussed efforts to accelerate the completion of the I-EU CEPA negotiations and strengthen economic and trade cooperation between Indonesia and the European Union.
In this meeting, Commissioner Sefcovic emphasized the importance of momentum in discussing a time frame for completing I-EU CEPA negotiations that is realistic and acceptable to both parties. Global trade conditions characterized by tariff wars require appropriate mitigation strategies to ensure the smooth flow of trade and investment between Indonesia and the EU.
Responding to this, Airlangga reiterated Indonesia’s commitment to completing the negotiation process.
“There is an urgency for Indonesia and the EU to immediately complete the negotiation process which will be a new opportunity for Indonesia and EU member countries to increase the volume of trade and investment,” said Airlangga.
Responding to this, Commissioner Sefcovic also expressed his commitment and hope that the EU could immediately complete the IEU CEPA negotiations in the first semester of 2025.
“The different market and economic structures between the EU and Indonesia can open up more market opportunities,” said Sefcovic.
Even though there are several remaining issues in the negotiation process, Airlangga said that Indonesia is not limiting opportunities for investment entry.
“By completing the I-EU CEPA, Indonesia hopes to invite investors from the EU to explore the market in Indonesia,” concluded Airlangga.
The Indonesian government and the EU are committed to continuing to find solutions to existing challenges in order to strengthen mutually beneficial bilateral trade relations. With the signing of I-EU CEPA, it is hoped that economic cooperation between Indonesia and the European Union can become closer and provide benefits for both parties in facing increasingly dynamic global challenges. (AT Network)
Follow Us at Google News and WA Channel