YOGYAKARTA Indonesia and the European Union (EU) will soon sign a Comprehensive Economic Partnership Agreement (CEPA) agreement. What is the CEPA agreement can be understood as a comprehensive economic partnership agreement involving the Republic of Indonesia and the EU. To understand more about the CEPA agreement, see the following article.
The CEPA RI EU agreement is an agreement that regulates comprehensive economic cooperation between Indonesia and the European Union. This economic agreement regulates several things such as reducing tariffs, market access, capacity crossing and trade facilities, and investment. This agreement includes trade in goods, trade in services, and investment.
RI and IEU-CEPA negotiations began in 2010 through a joint study between Indonesia and the EU and delivered in 2011. The study was entitled Invigorating the Indonesia-European Union Partnership Towards a Comprehensive Economic Partnership Agreement. The study was prepared by a joint team involving the government, business actors, and academics.
In 2012, RI and EU compiled the scoring paper document as material for negotiations. The preparation process itself was delayed due to a change of government. The new study was successfully completed in 2016 when Jokowi's era as president of the Republic of Indonesia.
The IEU-CEPA official negotiations were launched by former Trade Minister Thomas Lembong and European Union Trade Commissioner Cecilia Malmstrom on July 18, 2016.
Most recently, Indonesia and the European Union have signed a exchange letter or guideline document that will be used to accelerate the completion of the Indonesia-IEU-CEPA agreement. The signing was carried out by Coordinating Minister for the Economy Airlangga Hartarto and the European Union Commissioner for Trade and Economic Security Maro.
On this occasion, Coordinating Minister Airlangga expressed his appreciation for the sustainable commitment and involvement of the EU.
"Support from Commissioner Maro Yogyakarta and the Negotiation Team of the two countries is very meaningful in the entire IEU-CEPA negotiation process," said Coordinating Minister Airlangga.
Indonesia, which has a population of more than 285 million, offers a large market for its trading partners. Meanwhile, the EU, which has more than 400 million people, is currently the world's economic power. With the IEU CEPA, 80% of the tariff posts will be zero so that it can open up trade opportunities and investment for both parties.
Commissioner trust me also emphasized the commitment of both parties to finalize the agreement. He also said that the partnership between Indonesia and the EU became a solid foundation for long-term bilateral relations.
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"And this really proves, as you say, that we work day and night, weekend after weekend, only to ensure that relations between Indonesia and the European Union are getting better. And we create very big new opportunities for business people, for small and medium enterprises, and for Indonesia and the European Union," he said. .
That's information regarding what the CEPA agreement is. Visit VOI.id to get other interesting information.
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