Prabowo Subianto, the successor of President Joko Widodo, recently announced a significant breakthrough in Indonesia’s trade talks with the European Union. After a decade of tough negotiations, both parties have agreed to establish a Comprehensive Economic Partnership Agreement (CEPA), which essentially functions as a free trade pact. This agreement will allow Indonesian goods to enter the European market without facing any tariffs, marking a mutually beneficial relationship between the two regions.
During a press conference at Halim Perdanakusuma Air Base, Prabowo emphasized the advantages of the CEPA for both Indonesia and the European Union. While Europe seeks Indonesia’s commodities and access to its market, Indonesia stands to gain from Europe’s advancements in technology, science, and financial investments. The agreement not only resolves longstanding issues in the negotiations but also includes a visa cascade system designed to simplify the process for Indonesian nationals to obtain multiple-entry visas to the Schengen area.
Overall, the CEPA signifies a deep and symbiotic relationship between Indonesia and the European Union, with Indonesia offering critical minerals, commodities, and a vibrant market in exchange for Europe’s expertise and resources. This breakthrough in trade talks demonstrates a step towards enhancing economic cooperation and partnerships on an international level.
