Stable rules key to luring investment, outgoing EU envoy says
The outgoing EU ambassador to Indonesia, Denis Chaibi, whose term ends this month, told The Jakarta Post that stable regulations and fewer trade barriers would be key to attracting European investment in view of the signing of the Indonesia-EU CEPA in October.
Denis Chaibi, the outgoing EU ambassador to Indonesia, emphasized that stable regulations and fewer trade barriers would be crucial for attracting European investment following the signing of the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA) in October. Chaibi stated that most European businesses thrive under a rule-based environment, but stability in these regulations is paramount, as they should remain consistent and not frequently change.
Regulatory stability emerged as the top priority, he added. Chaibi noted that Indonesia's regulatory environment had deterred some European investors, and reducing nontariff barriers would facilitate the import of raw materials and the export of finished goods. Moreover, gaining wider recognition for European halal certification processes could further boost trade and investment opportunities.
Chaibi stressed the importance of Indonesia swiftly leveraging the tariff-free access under the IEU-CEPA before competing Southeast Asian economies secure similar preferential access to the EU. He highlighted that the IEU-CEPA provided a robust platform for Indonesia to enhance its competitiveness among neighboring countries that already have free trade agreements or are on the cusp of establishing one.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
