EU and Indonesia's major free trade deal to boost agriculture and businesses
The European Union and Indonesia on Sunday, July 13 signed a free trade deal after a decade of talks.
Speaking at a press conference in Brussels, EU President Ursula von der Leyen said the trade deal titled Comprehensive Economic Partnership Agreement (CEPA) is an opportunity for the automotive and agricultural industries to grow.
"There's a lot of untouched potential in our trade relationship, and therefore, this agreement comes at the right time because the new agreement will open new markets," she said during the joint press conference with Indonesian President Prabowo Subianto.
The EU president asserted that after 10 long years of talking with Indonesia, this is the best deal for both Europeans and Indonesians.
“After 10 years of negotiations, we have made a breakthrough. This new trade agreement will open up great opportunities for both our people,” she added.
President Subianto, who represents over 280 million Indonesians, also shared that “For Indonesia, CEPA is not only about trade; it is about fairness, respect, and building a strong future together. The agreement must support our efforts to grow our industries, create jobs, and strengthen our sustainable development goals."
The trade agreement comes just a day after US President Donald Trump announced 30% tariffs on EU exports, which will start on August 1.
This story is written and edited by the Global South World team, you can contact us here.
