EU, Indonesia strike political agreement to advance free trade deal

Sign up now: Get STs newsletters delivered to your inbox

Indonesian President Prabowo Subianto said his nation and the EU are setting a right example.

PHOTO: REUTERS

BRUSSELS - A political agreement was reached to advance the EU-Indonesia free trade deal, said European Commission president Ursula von der Leyen on July 13.

The trade deal – dubbed Cepa, which stands for Comprehensive Economic Partnership Agreement – will create more opportunities in key industries such as agriculture and the automotive sector, Dr von der Leyen added.

“There is a lot of untouched potential in our trade relationship and therefore, this agreement comes at the right time because the new agreement will open new markets,” she said at a press conference with Indonesian President Prabowo Subianto.

Mr Prabowo added: “We consider Europe to be very important to us. That’s why we would like to see more European presence and more European participation in our economy.
“I think that in this era of instability or confusion, we are setting a right example.” REUTERS