Landmark EU-Indonesia Trade Agreement Set for Bali Signing

The much-anticipated trade agreement between the European Union and Indonesia is set to be signed next week in Bali, as confirmed by Indonesian Economic Minister Airlangga Hartarto. The agreement follows a series of discussions accelerated by U.S. import tariffs under the Trump administration.

Set to be signed on September 23, the agreement will grant Indonesia zero tariffs on 80% of its exports to the EU. This development comes after nine years of negotiations aimed at improving access for agricultural and manufactured goods from both parties. Indonesia hopes for swift ratification post-signing.

Last year, bilateral trade between the EU and Indonesia reached $30.1 billion, with Indonesia benefiting from a $4.5 billion trade surplus. The EU remains Indonesia's fifth-largest trade partner, with palm oil, footwear, and textiles as primary exports from Indonesia.

(With inputs from agencies.)