EU, Indonesia to sign trade deal next week
The European Union and Indonesia have finalized a trade agreement that is expected to be signed on September 23.
Jakarta International Container Terminal at the Tanjung Priok Port in Jakarta. Photo courtesy of jict.co.id.
EU Trade Commissioner Maros Sefcovic will travel to Indonesia for the signing.
Under the deal, about 80% of Indonesia’s exports to the EU will see tariffs eliminated within one to two years after the agreement takes effect.
This marks an important step following European Commission President Ursula von der Leyen’s announcement in July that the two sides had reached a 'political agreement' on the Comprehensive Economic Partnership Agreement (CEPA).
The Financial Times reported that President Donald Trump's recent import tax measures have contributed to promoting the negotiation process between the EU and Indonesia.
The EU Trade Office and Indonesian Ministry of Foreign Affairs did not respond to a request for comment.
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