Prabowo Subianto, President of Indonesia, recently announced the successful conclusion of the Comprehensive Economic Partnership Agreement (CEPA) negotiations between Indonesia and the European Union. This milestone agreement signifies a significant breakthrough that will enable Indonesian products and commodities to have broader access to the EU market. After a decade of negotiations, President Prabowo expressed his delight during a meeting with European Council President António Costa in Brussels on July 13th.
CEPA is essentially a free trade agreement between Indonesia and the EU, with President Prabowo confirming that all previously contested trade matters have been successfully addressed and resolved. This agreement is set to open up new opportunities for both European and Indonesian economies. President Prabowo highlighted the symbiotic nature of the Indonesia-EU partnership, where the EU brings its expertise in science, technology, finance, and management, while Indonesia provides vital resources and agricultural commodities.
The President emphasized the importance of deeper cooperation in today’s multipolar world, expressing his appreciation for the EU’s commitment to global peace and stability. Furthermore, Prabowo stated that the CEPA agreement will serve as a solid foundation for enhanced economic, trade, and investment collaboration between Indonesia and the European Union. He concluded by expressing optimism for the new strategic phase of bilateral relations between the two parties.
