Indonesia and the European Union have successfully concluded negotiations to establish the Comprehensive Economic Partnership Agreement (CEPA) after a decade-long process. This agreement, as announced during a joint press conference in Brussels by Indonesian President Prabowo Subianto and European Commission President Ursula von der Leyen, marks a significant milestone in enhancing market access for Indonesian products in Europe.
President Prabowo celebrated the breakthrough as a critical achievement in the face of global uncertainty, highlighting the mutual benefits of cooperation arising from reconciling previously differing economic interests. President von der Leyen commended Prabowo’s leadership in finalizing the ambitious and timely free trade agreement, emphasizing Indonesia’s strategic role in global supply chains, particularly in supporting the EU’s transitions toward clean energy and digitalization.
The CEPA is expected to provide broader market access for Indonesian products in various sectors, including agriculture, automotive, services, and critical raw materials, contributing to the strengthening of secure and responsible supply chains. With a combined market of 730 million people between Indonesia and the EU, the implementation of the CEPA is poised to be a game-changer in trade relations between the two regions.
President Prabowo expressed hope for the signing and implementation of the CEPA to take place in Brussels, symbolizing a long-term commitment between Indonesia and the EU. This agreement is set to open new markets, create more opportunities, and promote responsible sourcing practices that prioritize environmental protection, community welfare, and job creation in line with the principles of sustainable development.
