RI-EU Equivalent Perceptions To Accelerate IEU-CEPA Negotiations

JAKARTA - Coordinating Minister for Economic Affairs of the Republic of Indonesia Airlangga Hartarto met virtually with European Union Trade Commissioner Maros Sefcovic to equalize perceptions to accelerate the completion of the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) negotiations.

In this meeting, the Sefcovic Commissioner emphasized the importance of momentum in discussing the realistic and acceptable time frame for the completion of the IEU-CEPA negotiations.

"The global trade condition, which is colored by tariff wars, requires an appropriate mitigation strategy to ensure smooth trade and investment flows between Indonesia and the European Union (EU)," said Sefkovic Commissioner in a statement in Jakarta, Saturday.

Responding to this, Coordinating Minister Airlangga reiterated Indonesia's commitment to completing the negotiation process.

"There is an urgency for Indonesia and the European Union to immediately complete the negotiation process which will be a new opportunity for Indonesia and EU member countries to increase trade and investment volume," he said.

In this case, the European Union also expressed its commitment and hope to be able to immediately complete the IEU-CEPA negotiations in the first semester of 2025.

According to him, different market and economic structures between the European Union and Indonesia can open up more market opportunities.

Although there are several issues left in the negotiation process, Airlangga said that Indonesia does not limit the opportunity for investment to enter.

"With the completion of the IEU-CEPA, Indonesia hopes to invite investors from the EU to be able to explore the market in Indonesia," he said.

With the signing of the IEU-CEPA, it is hoped that economic cooperation between Indonesia and the European Union can be closer and provide benefits for both parties in facing increasingly dynamic global challenges.

The IEU-CEPA negotiations have been carried out in 19 rounds in the last nine years. The IEU-CEPA is a comprehensive bilateral trade agreement conducted by Indonesia with partner countries in the European Union region.

In general, the IEU-CEPA includes three main pillars, namely access to the trade market for goods and services, investment and public procurement, harmonization of trade regulations, as well as cooperation and capacity building.

Also present with Coordinating Minister Airlangga at the meeting were Minister of Trade Budi Santoso, Deputy Minister of Foreign Affairs Arief Havas Oegroseno, Sesmenko Perekonomian Susiwijono, Deputy for Coordination of Cooperation and Investment of the Coordinating Ministry for the Economy Edi Prio Pambudi, Director General of International Trade Negotiations Djatmiko Bris Witjaksono, Expert Staff for International Relations of the Ministry of Trade Johni Martha, and Indonesian Ambassadors to Belgium, Luxembourg, and the European Union Andri Hadi.