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Start of negotiations for CEPA-Agreement

July 26, 2016

Easing of trade and growing bilateral trade volume expected between Indonesia and the EU

Formal negotiations on the Comprehensive Economic Partnership Agreement (CEPA) between Indonesia and the EU were launched on 18 July 2016 by Indonesian Trade Minister, Thomas Lembong, and EU Ambassador to Indonesia, Vincent Guérend.

The negotiation’s scope is ambitious and covers a wide range of topics in order to facilitate trade and investment like duties, access to public procurement, competition rules, protection of intellectual and property rights and other barriers to trade and service investments but also environmental protection and social development.

Trade in goods between the EU and Indonesia amounted to over 25 billion Euros in 2015, with EU exports worth almost 10 billion Euro and EU imports from Indonesia worth more than 15 billion Euros, thus creating a trade surplus for Indonesia. EU Commissioner Malmström and Minister Lembong jointly declared that these negotiations are key to unleash synergies between the two economies which represent a huge market of 750 million consumers.

A Comprehensive Economic Partnership Agreement would secure Indonesia’s competitiveness on the European market, thus generating an increase of exports to Europe by an estimated 802 Bn. EUR (+5,4% from the current level), according to recent study from the Indonesian Centre for Strategic and International Studies (CSIS). 38% of this increase would be generated by traditional products, while the rest would come from newly created trade in diversified products.