EU Commission President Ursula von der Leyen announced this important development after her meeting with Indonesian President Prabowo Subianto in Brussels.
In her statement, von der Leyen emphasized the importance of reliable partnerships at a time of heightened economic uncertainty and geopolitical volatility, stating: "Today we are taking a major step forward in the EU-Indonesia partnership. I am pleased to announce that we have reached political agreement on an ambitious free trade agreement."
Breakthrough in 10 Years of Negotiations
Negotiations on a free trade agreement between the EU and Indonesia started in 2016. “After 10 years of negotiations, we have achieved a breakthrough. Together, we are sending a strong message about the importance of predictable and long-term partnerships,” stated von der Leyen, emphasizing the strategic importance of this step.
Noting that the new agreement will be prepared within the framework of a comprehensive economic partnership, von der Leyen stated, "This new trade agreement will bring great opportunities to both our people and our country. It will expand markets and offer more opportunities to key sectors."
Opportunity for Agriculture, Automotive and Service Sectors
According to Von der Leyen, the free trade agreement will create significant opportunities for companies operating in the agriculture, automotive and service sectors. Businesses in these sectors will have easier access to new markets and will be able to increase their business volumes.
In the coming period, the EU Commission and Indonesian representatives are expected to accelerate the technical work on the text of the agreement. The agreement is expected to make trade between the two sides more predictable and sustainable.
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