In a written statement received here on Monday, Hartarto stated that this progress was marked by the signing and exchange of letters between the Indonesian government and the European Commission, representing a high-level political agreement to accelerate the finalization of the IEU-CEPA negotiations.
The exchange of letters took place between Hartarto and European Commission Trade Commissioner Maros Sefcovic.
The meeting began with a one-on-one meeting, followed by an exchange of letters marking a significant milestone in the IEU-CEPA finalization process.
"The letter expressed appreciation for the progress made in the negotiations and reaffirmed both sides' commitment to conclusively concluding the talks, including taking concrete steps to resolve the remaining substantial issues," he remarked.
He stated that the handover of the letter was a strong symbol of both parties' seriousness in pushing for substantial completion of the IEU-CEPA, aiming for signing in 2025 through mutually beneficial and balanced solutions.
"I express my appreciation for the European Union's continued commitment and constructive engagement. The support from Commissioner Maros and the negotiating teams of both countries has been invaluable throughout the IEU-CEPA negotiation process," the minister remarked.
In the meantime, Commissioner Maros described the agreement as an important achievement since negotiations began in 2016.
The European Union is dedicated to strengthening relations with the Southeast Asian region, and the IEU-CEPA is a key instrument to achieve that, Maros stated.
With a population of over 285 million, Indonesia offers a large and dynamic market for trading partners.
Conversely, the European Union, with over 400 million people, is also one of the world's major economic powers.
Under the IEU-CEPA agreement, about 80 percent of tariff lines will be reduced to zero, opening up broader trade and investment opportunities for both parties.
Related news: Indonesia-EU CEPA agreement concluded after 10 years
The completion of the IEU-CEPA negotiations was officially announced during a bilateral meeting between President of the Republic of Indonesia Prabowo Subianto and President of the European Commission Ursula von der Leyen held in Brussels on the same day.
In a joint press statement, the leaders of both parties affirmed their commitment to strengthening their strategic partnership, including accelerating the completion of the EU-CEPA.
President von der Leyen officially announced that Indonesia and the European Union have reached a political agreement that lays the foundation for completing the IEU-CEPA negotiations in the near future.
The agreement would also help strengthen the supply chains of critical raw materials essential for Europe's cleantech and steel industries she said, adding that she looks forward to the swift conclusion of the agreement.
With the exchange of letters, Indonesia and the European Union will soon conclude the negotiation process, which has entered its tenth year and has included 19 formal rounds and various intersessional meetings.
Technical-level negotiations for the Indonesian government have been coordinated by the Director General of International Trade Negotiations at the Ministry of Trade.
Related news: Kadin optimistic IEU-CEPA to boost Indonesia-EU trade
Translator: Bayu Saputra, Katriana
Editor: Rahmad Nasution
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