Indonesia and the European Union have finally concluded the Comprehensive Economic Partnership Agreement (CEPA) after a lengthy negotiation process, marking a crucial milestone in expanding market access for Indonesian products in Europe. The agreement was announced during a joint press conference in Brussels, where Indonesian President Prabowo Subianto and European Commission President Ursula von der Leyen praised the breakthrough as a significant achievement amid global uncertainties.
President Prabowo highlighted the successful reconciliation of economic interests between both parties, emphasizing the mutually beneficial nature of the cooperation. President von der Leyen commended Prabowo’s leadership in finalizing the ambitious free trade agreement, acknowledging Indonesia’s strategic role in global supply chains, particularly in clean energy and digital transitions.
The CEPA will offer broader market access for Indonesian products in various sectors, including agriculture, automotive, services, and critical raw materials. The agreement aims not only to secure supply chains but also to promote socially and environmentally responsible practices, encouraging job creation and local value-added.
With a combined market of 730 million people, the implementation of CEPA is expected to significantly impact 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.
