Indonesia-EU partnership contributes to global economy: Prabowo

Jakarta (ANTARA) - President Prabowo Subianto stated that the strategic agreement between Indonesia and the European Union plays a role in supporting the global economy and political stability.

During his state visit to Belgium, Prabowo met with European Commission President Ursula von der Leyen at the European Union's Berlaymont Building Headquarters in Brussels on Sunday (July 13) local time.

"Europe is a leader in science, technology, and finance. However, Indonesia possesses significant resources. Thus, a partnership between Europe and Indonesia, with Indonesia also being part of ASEAN, will make a crucial contribution to the global economy and geopolitical stability," he noted in a statement on Monday.

On the same occasion, Coordinating Minister for Economic Affairs Airlangga Hartarto also met with European Union Commissioner for Trade and Economic Security Maroš Šefovi to agree on several key points as concrete follow-up to the completion of the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) negotiations.

"Indonesia welcomes the political agreement, as this marks an important milestone towards the completion of the IEU-CEPA by September 2025. This joint achievement also demonstrates the strategic value of both parties in strengthening the long-term partnership between Indonesia and the European Union," he noted.

Since the negotiations commenced in July 2016, at least 19 rounds of official meetings and numerous intersessional meetings have been held, leading to the current significant progress.

According to Hartarto, both parties acknowledged the significant potential to develop trade and investment by improving market access, eliminating trade barriers, and facilitating a more predictable and inclusive business environment.

Hartarto and Šefovi also signed an exchange letter as a guideline for accelerating the completion of the IEU-CEPA agreement.

Furthermore, Šefovi said this important breakthrough reaffirms both parties' commitment to finalizing a comprehensive, forward-looking, and mutually beneficial agreement.

He also stated that the strategic trade partnership between Indonesia and the EU will serve as a solid foundation for long-term bilateral relations.

"We are creating enormous new opportunities for business people, for small and medium-sized enterprises, for both Indonesia and the European Union," he emphasized.

The IEU-CEPA aims to offer wider business opportunities, increase legal certainty, and provide a strategic platform for deepening dialogue and cooperation on various important economic issues of current relevance.

The CEPA negotiation process has now reached the stage of finalizing technical issues, fine-tuning, and establishing a more detailed timeframe for the ratification of the IEU-CEPA.