Indonesia and the European Union have successfully concluded negotiations for the Comprehensive Economic Partnership Agreement (CEPA) after a decade-long process. This agreement, announced in Brussels during a joint press conference with European Commission President Ursula von der Leyen, opens up broader market access for Indonesian products across Europe. President Prabowo Subianto praised this achievement as a critical and strategic breakthrough amidst global uncertainty, highlighting the mutual benefits and complementary interests that were discovered during the negotiation process.
President von der Leyen commended Prabowo’s leadership in finalizing the CEPA, describing it as an ambitious and timely free trade agreement that signifies vast economic potential for both parties. She also emphasized Indonesia’s pivotal role in global supply chains, particularly in supporting the EU’s clean energy and digital transitions. The CEPA will facilitate market access for Indonesian products in various sectors such as agriculture, automotive, services, and critical raw materials, with a focus on responsible sourcing that respects the environment and local communities.
With a combined market of 730 million people between Indonesia and the EU, the implementation of the CEPA is expected to significantly impact trade relations in both regions. The signing of the agreement in Brussels is envisioned as a symbol of long-term commitment between the two partners. As Indonesia emerges as one of the world’s largest economies with a GDP of €1.2 trillion, the CEPA is poised to create new opportunities and strengthen supply chains for key sectors, fostering economic growth and job creation.
