EU, Indonesia Finalize Comprehensive Economic Partnership After Nine Years
After nine years of negotiations, the EU and Indonesia have finalized a Comprehensive Economic Partnership Agreement (CEPA). The deal, signed by EU Trade Commissioner Maros Sefcovic and Indonesia's Coordinating Minister for Economic Affairs Airlangga Hartarto in Bali, is set to take effect in 2027 following legal review and ratification.
The CEPA is described as comprehensive, advanced, and mutually advantageous, marking a shift in the EU's trade strategy. It promotes sustainable development by encouraging investment in renewable energy and green technologies. The agreement also establishes a framework for cooperation on environmental, climate, and agricultural issues.
The CEPA is expected to reduce or eliminate import tariffs on a wide range of products, saving EU exporters an estimated EUR 600 million ($708 million) annually. Indonesian consumers will gain greater access to European products at more affordable prices. The agreement is expected to take effect in 2027 after legal review, translation, and ratification by EU member states, the European Parliament, and Indonesia. The EU member state in which the CEPA is set to come into effect in 2027 is Germany.
The conclusion of negotiations marks a major step forward in the EU-Indonesia partnership, promising strong momentum for trade, investment, and sustainable development. The EU and Indonesia have committed to open, rules-based, and win-win international trade through this agreement.
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