Indonesia and the European Union have successfully concluded the Comprehensive Economic Partnership Agreement (CEPA) after a decade-long negotiation process. This agreement was officially announced during a joint press conference in Brussels, with Indonesian President Prabowo Subianto and European Commission President Ursula von der Leyen highlighting its significance. Described as a free trade agreement, CEPA will provide broader market access for Indonesian products in various sectors across Europe. Both leaders emphasized the mutual benefits and complementary economic interests that were reconciled throughout the negotiations.
President von der Leyen commended President Prabowo for his leadership in finalizing the agreement, labeling CEPA as a timely and ambitious free trade agreement with immense economic potential for both partners. Indonesia’s strategic role in global supply chains, especially in supporting the EU’s clean energy and digital transitions, was also emphasized during the press conference. The CEPA is expected to create new opportunities in sectors such as agriculture, automotive, services, and critical raw materials, focusing on socially and environmentally responsible sourcing.
With a combined market of 730 million people between Indonesia and the EU, the implementation of CEPA is anticipated to significantly impact trade relations in both regions. President Prabowo expressed hopes for the signing of the agreement to take place in Brussels, symbolizing a long-term commitment between the two partners. The CEPA represents a major breakthrough in economic cooperation between Indonesia and the European Union, paving the way for enhanced market access and opportunities for both parties.
