Minister Airlangga Meets EU Ambassadors to Advance I-EU CEPA Negotiations

Palm Oil Magazine
Minister Airlangga Meets EU Ambassadors to Advance I-EU CEPA Negotiations. Photo by: Coordinating Ministry for Economic Affairs

PALMOILMAGAZINE, JAKARTA — Coordinator Minister for Economic Affairs of the Republic of Indonesia, Airlangga Hartarto, met with several European Union ambassadors to discuss accelerating the completion of the Indonesia-European Union Comprehensive Economic Partnership Agreement (I-EU CEPA).

The meeting, held at the Coordinating Ministry for Economic Affairs, underscored Indonesia’s strong commitment to finalizing the bilateral trade agreement.

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Hartarto emphasized that the I-EU CEPA would enhance trade and investment relations between the two parties. “Finalizing the I-EU CEPA could significantly boost economic opportunities, increasing Indonesia’s real GDP by €5.2 billion and the EU’s by €3.1 billion by 2032,” he stated in an official statement to Palmoilmagazine.com on Thursday (26/9/2024).

Also Read: Airlangga Hartarto: Government Proposes Increase in SRP Fund to Rp 60 Million per Hectare

The European Union is one of Indonesia’s largest strategic partners, ranking fifth among its biggest trade partners. In 2023, total trade between the two reached $30.77 billion, resulting in a trade surplus of $2.5 billion for Indonesia. This positive trade trend has continued over the past five years, with a cumulative trade surplus of $23.95 billion for Indonesia.

Hartarto also noted that negotiations have been ongoing for nine years, highlighting President Joko Widodo’s reminder that they should be completed before the new government takes office.

In the same chance, General Director of International Trade Negotiation, Ministry of Trade, Djatmiko Bris Witjaksono said that Indonesia significantly did some things heading to “landing zone” that both parties could accept. “We would do the best to accomplish some main concerns to get concrete solutions that would be profitable for both parties,” Djatmiko said.

The European Union ambassadors that attended the meeting emphasized their supports to accomplish I-EU CEPA. They came to a conclusion that this would potentially reinforce the economic relationship, escalate profitable trade between the two by prioritizing profitable principles for both parties and satisfaction for the two.

In the meeting, Airlangga was with the deputy in International Economic Cooperation Coordination and deputy of Industry and Commerce, Coordinator Ministry in Economy; and expert staff of Economic Diplomancy Ministry of External Affairs. (P2)

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