EU and Indonesia Seal Landmark Trade Pact
The European Union and Indonesia are poised to sign a Comprehensive Economic Partnership Agreement that eliminates tariffs on 80% of Indonesian exports. Set to be signed on September 23, this deal was accelerated by U.S. import tariffs and follows a political agreement reached in July.
The European Union and Indonesia are finalizing a landmark trade agreement, according to sources from Brussels and Jakarta, reported by the Financial Times. The deal, known as the Comprehensive Economic Partnership Agreement (CEPA), is scheduled for signing on September 23.
EU Trade Commissioner Maros Sefcovic is expected to visit Indonesia for the formal signing, yet neither the EU Trade Office nor Indonesia's Ministry of Foreign Affairs has provided immediate commentary.
The negotiations gathered pace due to U.S. President Donald Trump's import tariffs, the report notes. The deal aims to cut tariffs on 80% of Indonesian exports within the first two years of implementation, solidifying the trade relationship between the two regions.
(With inputs from agencies.)
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