"IEU CEPA is expected to be completed in 2023," the minister stated at the 2023 Indonesia Economic Outlook seminar in Jakarta on Wednesday.
During a visit to the European Union, President Jokowi has mandated that the IEU CEPA negotiations, which had been running for seven years, be finalized soon.
At the same time in 2023, the national economy is forecast to experience a weakening though will continue to grow by around 4.7 to five percent.
Indonesia will also focus on running the ASEAN chairmanship in 2023 and continue negotiating economic cooperation agreements with member countries of the Asia Pacific Economic Cooperation (APEC).
"Then, we will also oversee the implementation process of the Job Creation Law in 2023 and the newly passed Law on the Development and Strengthening of the Financial Sector (P2SK), as well as oversee the development of National Strategic Projects," he stated.
Airlangga remarked that during the G20 Presidency in Bali, Indonesia succeeded in making a global strategic commitment in the form of a pandemic fund worth US$1.5 billion.
A special drawing right was also agreed upon from the International Monetary Fund in the form of a resilience fund worth US$81.6 billion and a climate change management fund worth US$100 billion for several countries.
"In the G20, there was also a partnership for global infrastructure investment, with an investment of US$600 billion, and specifically for Indonesia, it was recognized as US$20 billion," he remarked.
President Joko Widodo (Jokowi) earlier called for significant progress in the negotiations of the IEU CEPA to boost trade between both parties.
"The 12th negotiation (was already held in October) was scheduled at the end of 2022. I hope that the negotiation would result in progress, including on the issues of government procurement of goods, small and medium enterprises (SMEs), and export tax," Jokowi remarked.
President Jokowi is looking forward to the ASEAN and European Union intensifying cooperation, as Indonesia will lead the ASEAN Chairmanship in 2023.
One of the focus areas of Indonesia's chairmanship is to realize cooperation in the Indo-pacific region, according to the head of state.
Furthermore, Jokowi called on the European Commission and the G7 to convey their support and flexibility, so that the G20 Summit can result in a declaration.
"I want the G20 concrete work results, which the world is waiting for, to be realized. Once again, Your Excellency's support will be greatly appreciated," the president affirmed.
Meanwhile, von der Leyen praised Indonesia's leadership in the G20 that strives to formulate joint solutions to the global crisis. Indonesia is viewed as a trusted partner on several strategic issues, including renewable energy and food security.
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Translator: Sanya D, Azis Kurmala
Editor: Rahmad Nasution
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