Jakarta (ANTARA) - Negotiations on the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) have officially concluded after a decade.
The announcement was made by President Prabowo Subianto during a joint press conference with European Commission President Ursula von der Leyen in Brussels, Belgium, on Sunday.
"Today, we have achieved a breakthrough. After 10 years of negotiations, we have concluded a comprehensive economic partnership agreement, which basically is a free trade agreement," Prabowo remarked.
He confirmed that both parties had reached consensus on all aspects of the agreement.
"Basically, there are no items of disagreement between the EU and Indonesia," he stated, expressing his appreciation for the successful outcome.
"In this era of instability or confusion, I think we set the right example," Prabowo added, voicing hope that the CEPA implementation document would be signed soon.
President von der Leyen also confirmed the political agreement, praising Prabowo's leadership.
"Mr. President, I want to thank you for your leadership. Together, we are sending a strong message about the importance of predictable long-term partnerships," she remarked.
She emphasized Indonesia’s role as a key supplier of vital goods to Europe, its status as the EU’s fifth-largest recipient of foreign direct investment, and fifth-largest trade partner in Southeast Asia.
Von der Leyen expressed optimism about the untapped potential in bilateral trade, saying the CEPA arrives at the right time to unlock new markets and opportunities.
Prabowo’s visit to Belgium includes meetings with von der Leyen, European Council President Antonio Costa, and King Philippe.
