Tuesday, July 16, 2024

Jokowi pushes for the swift conclusion of IEU-CEPA to boost economic growth

Reading Time: < 1 minute
Journalist IBP




President Joko “Jokowi” Widodo has instructed his cabinet ministers to expedite the completion of the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) before the State leadership transition in October this year.

The goal is to have the agreement completed during the 19th meeting between Indonesia and the European Union, scheduled to take place in Jakarta in early July 2024.

Minister of Trade Zulkifli Hasan reported significant progress, stating that the IEU-CEPA is already 90 percent complete.

“This has been in the works for eight years, as directed by the president. We hope to finalize it between July 1-5,” Zulkifli said in Jakarta on Tuesday, June 25, 2024.

The IEU-CEPA aims to strengthen trade relations between Indonesia and the European Union. Vincent Piket, the EU Ambassador to Indonesia and Brunei Darussalam, noted that the agreement could boost Indonesia’s GDP by 4.6 to 5.2 billion euros by 2032.

Zulkifli highlighted some of the EU’s requests, including the removal of import tariffs on dairy products and cheese exported to Indonesia. Conversely, Indonesia has proposed tariff exemptions for several commodities, such as crude palm oil (CPO), textiles, and iron and steel.

“We are willing to accept their products if they reciprocate,” Zulkifli said.

The negotiations for the IEU-CEPA, launched on July 18, 2016, have undergone 18 rounds, conducted both in person and virtually. The 17th round of negotiations took place in Bandung from February 26 to March 1, 2024, focusing on intellectual property rights.

The most recent, the 18th round of negotiations, held from May 13-17, 2024, in Brussels, Belgium, with the EU hosting. The Indonesian government remains optimistic about the agreement’s completion and its potential to enhance bilateral trade relations and economic growth.

Journalist IBP






We will provide you with an invoice for your reimbursable expenses.


New to Indonesian market? Read our free articles before subscribing to the premium plan. If you already run your business in Indonesia, make sure to subscribe to the premium subscription so you won’t miss any intelligence & business opportunities.


$550 USD/Year


$45 USD/Month

Cancelation: you can cancel your subscription at any time, by sending us an email inquiry@ibp-media.com

Add keywords to your market watch and receive notification:
Schedule a free consultation with us:

We’ll contact you for confirmation.


The Indonesian Central Bank (BI) has broadened its international payment cooperation network by signing a Memorandum of Understanding (MoU) with the Bank of Korea (BoK) for QR code-based payments.
President Joko “Jokowi” Widodo departed for Dubai, United Arab Emirates (UAE) on Tuesday, July 16, 2024 in a move to discuss investment opportunities in Indonesia’s new capital city (IKN) with UAE business leaders.
Minister of Manpower, Ida Fauziyah, has revealed that the Indonesian government is working to strengthen labor cooperation with the People’s Republic of China.
Dadan Kusdiana, Secretary General of the Ministry of Energy and Mineral Resources (ESDM) and David Fredericks, Secretary of the Australian Department of Climate Change, Energy, Environment & Water (DCCEEW) on Tuesday, July 2, 2024,signed a Memorandum of Understanding (MOU) on efforts to strengthen bilateral cooperation on energy transition.
The Ministry of Foreign Affairs and Commission I of the House of Representatives (DPR) have agreed to establish a Working Committee (Panja) to discuss and finalize five defense cooperation bills with India, France, Cambodia, Brazil, and the United Arab Emirates (UAE).
Minister of Transportation Budi Karya Sumadi says Indonesia is determined to ratify the 12th Protocol on Air Transport Services Commitments within the ASEAN Framework Agreement on Services, having so far ratified up to the 8th protocol.