Indonesia and the European Union have successfully concluded negotiations for the Comprehensive Economic Partnership Agreement (CEPA) after ten years of discussions. This milestone was announced during a joint press conference in Brussels with Indonesian President Prabowo Subianto and European Commission President Ursula von der Leyen. The agreement is celebrated as a significant breakthrough and a critical achievement amidst global uncertainties.
President Prabowo highlighted the mutually beneficial nature of the agreement, emphasizing the alignment of economic interests between the two parties. President von der Leyen commended Prabowo’s leadership in bringing the negotiations to a close and described CEPA as an ambitious free trade agreement with vast economic potential.
The CEPA aims to provide broader market access for Indonesian products across various sectors such as agriculture, automotive, services, and critical raw materials. The EU seeks to strengthen supply chains while emphasizing responsible sourcing that respects the environment, local communities, and focuses on job creation and local value-added.
With a combined market of 730 million people, the implementation of CEPA is viewed as a potential game-changer in trade relations between Indonesia and the EU. President Prabowo expressed hopes for the signing of the agreement to take place in Brussels, symbolizing a long-term commitment between the two partners.
