Coordinating Minister for Economic Affairs, Airlangga Hartarto, held a virtual meeting with the European Union (EU) Trade Commissioner on Thursday, February 13th 2025. The meeting was held to accelerate the completion of the Indonesia-European Union Comprehensive Economic Partnership Agreement (I-EU CEPA) while also strengthening cooperation with the EU. The negotiations were initially carried out 19 rounds in the last year. The I-EU CEPA itself is a bilateral trade agreement forum established by Indonesia with other partner countries. In general, the I-EU CEPA covers three main pillars, namely market access for trade in goods and services, investment and public procurement, harmonization of trade regulations, and cooperation and capacity building. Airlangga himself emphasized that the Indonesian government is committed to completing the negotiation process.
"There is an urgency for Indonesia and the EU to immediately complete the negotiation process which will be a new opportunity for Indonesia and EU member states to increase trade and investment volumes," said Airlangga as quoted from the official website of the Coordinating Ministry for Economic Affairs, Sunday (16/2/2025). With the completion of the I-EU CEPA, Indonesia hopes to invite investors from the EU to explore the market in Indonesia. On the same occasion, Commissioner Sefcovic emphasized the importance of momentum in discussing a realistic time frame for completing the I-EU CEPA negotiations that is acceptable to both parties. Given the global trade conditions that are marked by tariff wars, an appropriate mitigation strategy is needed to ensure the smooth flow of trade and investment between Indonesia and the EU. Sefcovic also conveyed the EU's commitment and hoped to be able to immediately complete the I-EU CEPA negotiations in the first semester of 2025. "The different market and economic structures between the EU and "Indonesia can open up more market opportunities," concluded Sefcovic.
