Airlangga Touts Indonesia-EU CEPA as 'Game Changer' for Economy
Indonesia-EU CEPA could be a game changer, Airlangga says, with 90% of tariff lines set for zero tariffs
TEMPO.CO, Jakarta - Indonesia's Coordinating Minister for Economic Affairs, Airlangga Hartarto, declared the Indonesia-European Union Comprehensive Economic Partnership Agreement (EU-CEPA) as a potential game-changer for Indonesia's economy. The government aims to attract investment from European Union countries, with the agreement set to expand Indonesia's market access to Europe.
Around 90% of Indonesia's tariff lines will be reduced to zero immediately following the agreement's implementation, with the remaining tariffs gradually decreased.
During a meeting with EU ambassadors to Indonesia, Airlangga emphasized that the EU-CEPA would not only boost trade but also unlock new investment opportunities from Europe. The European Union is one of Indonesia's investment partners across various sectors. Recent visits to Indonesia by business delegations from Germany and France indicate a growing interest in tapping into these opportunities.
The government aims to sign the EU-CEPA in October, and once ratified, the necessary regulations will be implemented. Key sectors that are expected to benefit from the cooperation include renewable energy, the digital economy, cybersecurity, and agriculture. Airlangga noted that Europe's strengths in manufacturing, innovation, and technology could provide opportunities for Indonesia to expand its economic cooperation with European countries.
Economic ties between Indonesia and Europe have existed for centuries, and Airlangga highlighted the potential for Indonesia to build on this history with the EU-CEPA.
Written by urgent.news from Tempo.co English's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
