"We believe that the completion of the Indonesia-EU CEPA will enhance market confidence for both parties," Putri noted in the ministry's statement here on Thursday.
The deputy minister highlighted CEPA's benefits for the public, especially amid the current uncertainties in global trade.
She expected the EU Parliament to understand the differences in economic levels and encouraged the EU to adopt a more pragmatic approach to achieve a resolution in the negotiations by 2025.
At a meeting held at the Ministry of Trade office here on Wednesday (April 16), she emphasized that while expanding free markets is vital, it is equally important to account for the varying levels of economic development among partners.
According to Putri, a similar level of flexibility and pragmatic approach from the EU is crucial to finalize the negotiations. Moreover, the awaited completion of the Indonesia-EU CEPA is projected to foster a more business-friendly environment to sustain the economic welfare of both sides.
Putri stressed that cooperation is indispensable and critical in the face of rising international trade uncertainties due to the United States' tariff policy on several trading partners, including the EU and Indonesia.
In 2024, Indonesia achieved a trade surplus of US$4.5 billion with the EU, with exports to the bloc reaching US$17.3 billion, showing a positive trend of 4.01 percent compared to the previous year.
Indonesia's main exports to the EU include palm oil and its derivatives, copper ore and its concentrates, industrial monocarboxylic fatty acids, oil cake, and solid residues.
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Translator: Maria, Kenzu
Editor: Arie Novarina
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