Trade Minister Sets IEU-CEPA Target To Be Completed In Semester I-2025

JAKARTA - The Minister of Trade (Mendag) Budi Santoso targets the Indonesia-EU Europe trade agreement or the Indonesia-European Union Comperhensive Economic Partnership Agreement (IEU-CEPA) to be completed in the first semester of 2025.

According to Budi, the negotiation process regarding the trade agreement between Indonesia and Europe has approached an agreement.

"Well, we are actually approaching the completion of this IEU-CEPA. Yes, hopefully, the first half of this year will be finished," he said at the Office of the Ministry of Trade, Jakarta, Wednesday, May 21.

Budi explained that the target was also in line with the decline in the European Union after quite long negotiations. He said the IEU-CEPA was indeed the focus of the Ministry of Trade to be resolved immediately.

"So, we are now really willing to finish the IEU-CEPA. So this IEU-CEPA is indeed when we approach, the European Union is more softened," he said.

For your information, one of Europe's concessions is to give up the high risk status of oil palm products and others that have the potential to intersect with Indonesia's deforestation in the European Union Deforestation Regulation (EUDR) policy.

Therefore, Budi said that Indonesia continues to negotiate with the European Union and shows significant progress. In fact, he said there were also many changes in the preparation of trade agreements.

"A lot, a lot of influence," said Budi.