President of Indonesia, Prabowo Subianto, has announced the successful conclusion of the Comprehensive Economic Partnership Agreement (CEPA) negotiations between Indonesia and the European Union. This agreement is considered a significant milestone that will allow Indonesian products and commodities greater access to the EU market. After a decade of negotiations, President Prabowo expressed his satisfaction with the breakthrough during his meeting with European Council President António Costa in Brussels.
CEPA represents a free trade agreement between Indonesia and the EU, resolving all previously contested trade items. President Prabowo emphasized the importance of this agreement, stating that almost all items have been agreed upon and finalized. He highlighted the benefits of the partnership, with the EU bringing expertise in science, technology, and finance, while Indonesia offers strategic agricultural commodities and critical resources.
President Prabowo also acknowledged the EU’s commitment to global peace and stability and emphasized the need for deeper cooperation in today’s multipolar world. The CEPA agreement is expected to enhance economic, trade, and investment cooperation between Indonesia and the EU, paving the way for a new strategic phase in their bilateral relations.
