Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
JAKARTA, Sept. 23 (Xinhua) — Indonesia and the European Union signed the Comprehensive Economic Partnership Agreement (CEPA) in Bali on Tuesday.
“From the first round of negotiations in Brussels in 2016 to today in Bali, this nine-year journey has brought us to a historic milestone that reflects our shared commitment to an open, fair and sustainable economy within the framework of the Comprehensive Economic Partnership Agreement,” said Indonesian Minister for Economic Affairs Airlangga Hartarto in a joint statement with EU Commissioner for Trade Policy and Economic Security Maroš Šefčovič.
The agreement covers liberalization of trade in goods and services, as well as investment liberalization. Approximately 98 percent of tariff lines will receive preferential treatment under the agreement.
This is expected to have a positive impact on Indonesia's exports, including palm oil, textiles, footwear, and processed agricultural products. New opportunities will also emerge for electronics, high-tech goods, and digital trade.
M. Šefčovič stated that the agreement opens new opportunities for European companies in Indonesia's dynamic market. Sectors such as agribusiness and advanced manufacturing will benefit from expanded market access, including investment opportunities in the automotive and electric vehicle industries.
Indonesia became the third Southeast Asian country to sign a Comprehensive Economic Partnership Agreement with the European Union, following Singapore and Vietnam. The agreement is expected to enter into force in early 2027. –0–
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