JAKARTA: Indonesia and the EU finalized negotiations for a Comprehensive Economic Partnership Agreement on Tuesday, securing a deal that removes tariffs on nearly all goods amid US President Donald Trump’s trade war.
Indonesia’s chief Economic Minister Airlangga Hartarto and EU Trade Commissioner Maros Sefcovic jointly announced a “substantive conclusion” of the Indonesia-EU CEPA in Bali, after over nine years of talks.
“Today, we mark an important milestone (in) the longstanding partnership between Indonesia and the EU … (This) CEPA is a new era in our bilateral relations,” Hartarto said during the signing ceremony.
“As we look ahead for the next stage — the legal scrubbing, translation, ratification — we reaffirm (our) determination to bring this CEPA into force at the earliest opportunity. The target should be the first of January 2027.”
The agreement removes import duties on 98.5 percent of tariff lines, the EU said in a statement.
