Indonesia’s Trade Minister Budi Santoso is feeling pretty good about the ongoing negotiations for the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA). He’s confident that things are moving in the right direction and that a final agreement will be reached soon. “Hopefully, we’ll get there soon,” he mentioned to reporters in Jakarta over the weekend.
The Indonesian government has a goal to wrap up the IEU-CEPA talks by the first half of this year. Budi Santoso emphasized the importance of continuing the discussions to ensure a successful outcome. The Minister of Industry, Agus Gumiwang Kartasasmita, also chimed in, highlighting the strategic significance of the agreement for Indonesia’s economic growth, especially in light of the US government’s tariff policies.
Kartasasmita believes that the IEU-CEPA could be a game-changer for Indonesia, particularly benefiting the labor-intensive manufacturing sector. He envisions a scenario where Indonesian textile products can enter European markets without facing import tariffs, ultimately boosting Indonesia’s competitiveness. The Ministry of Industry has even given the green light for Indonesian negotiators to proceed with signing the agreement, showing a strong commitment to reaching a favorable outcome.
