Indonesia sees great opportunities to boost exports to Europe
The Indonesian Chamber of Commerce and Industry (Kadin) expressed optimism that the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA) will boost trade between the two sides.
Port of Benoa, Indonesia. Photo courtesy of VNA.
"This is a breakthrough in international trade for Indonesia and the EU, with negotiations taking almost a decade to conclude," Kadin Chairperson Anindya Bakrie said on Wednesday.
Bakrie remarked that in 2024, two-way trade reached EUR27.3 billion ($30.1 billion). He cited the EU-Vietnam CEPA as an example, saying trade between the two parties grew by 20%, from EUR 56 billion before the signing of the agreement to EUR 67 billion after the ratification.
He emphasized that in the current era, Indonesian companies and Kadin members must diversify. Businesses should actively seek new markets to expand international trade and drive Indonesia's economic growth.
Meanwhile, Investment and Downstreaming Minister Rosan Roeslani stated that the IEU-CEPA will be signed in September.
According to the minister, Indonesia's trade with the EU could double from $30 billion to $60 billion once the deal is enforced.
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