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IEU-CEPA Ran - 16 Working Groups Met



Ministry of Trade: Minister’s Intersession Meeting of the 10th Regional Comprehensive Economic Partnership (RCEP)
IEU-CEPA Ran - 16 Working Groups Met

InfoSAWIT, JAKARTA – The corona virus (Covid-19) pandemic did not stop the will of government of Indonesia and European Union to make progress in the Indonesia European Union Comprehensive Economic Partnership Agreement (IEU-CEPA).

The tenth negotiation should actually be held in March 2020, but it was postponed because of the social distancing that both sides implemented. On 15 - 26 June 2020, both delegations agreed to meet in online system and did intersession.

“Delegation of Indonesia does welcome the online intersession meeting which ran for the last ten days. This proved that though it is limited because of Covid-19 pandemic, both delegations are highly committed to make progress on the issues in the IEU – CEPA,” Iman Pambagyo recently said as the Indonesian Negotiator Team Chairman, as in the official written statement to InfoSAWIT.

16 working groups (WGs) met in the intersession, such as, the goods trade, the condition of origin, the customs and trade facility, the service trade, the intellectual rights, energy and material, competition, the government procurement, the sustainable trade and development, the conflict resolution, and agreement institutional condition.

The IEU-CEPA negotiation is the biggest bilateral negotiation of Indonesia now and the target is to get the solution immediately, urge the economic progress nationally, namely mitigate the impact of Covid-19, accelerate the reform process nationally, put Indonesia to have better position in the global value chain. The agreement in IEU-CEPA is projected to increase the competitiveness and get what has left behind from other countries in the region that other countries have got the trade agreement from European Union.

A Glance of IEU CEPA

IEU-CEPA started by making Vision Group in 2009 and was accomplished in 2011. Both sides did negotiation based on Scoping Paper which was endorsed by President of Indonesia and European Commission. The negotiation was launched in July 2016 by joint announcement in Jakarta and Brussels. It is planned that the tenth negotiation would be held in October 2020.

European Union is the fourth biggest trade partner of Indonesia, and Indonesia is the 33rd partner of European Union. The total trade between the two in 2019 reached USD 26,9 billion, within the exports from Indonesia reaching US$ 14,5 billion and the imports reaching US$ 12,4 billion. The investment of European Union in Indonesia reached US$ 2,6 billion in 2019. (T2)

 


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