Indonesia, EU to boost economic relations

Jakarta (VNA) – Indonesian President Joko Widodo is on a trip to four European countries, namely Germany , the United Kingdom , Belgium , and the Netherlands , from April 18 to 22, with the aim to strengthen his trade and economic cooperation with these countries, reported Jakarta Post.

In the Belgian capital of Brussels , the Indonesian President’s visit marks a historic new chapter in Indonesia-European Union (EU) relations, Indonesian Foreign Minister Retno LP Marsudi was quoted by Jakarta Post.

As the first visit by a sitting Indonesian president to EU institutions, Joko Widodo will hold important talks with all the Presidents of the European Parliament President, the European Council and the European Commission.

The visit will bolster cooperation between Indonesia and the EU, one of the country’s long-time traditional partners. The two sides signed the EU-Indonesia Partnership and Cooperation Agreement (PCA), the first EU treaty with a Southeast Asian nation, in 2009.

The EU is Indonesia ’s fourth largest trading partner with two-way trade currently reaching 26.2 billion USD.

Total investment from the EU, at around 2.3 billion USD, is Indonesia ’s third largest investor. Almost 1 million tourists from Europe also visited Indonesia last year.

The visit from Widodo will not only reinforce formal economic ties through avenues such as the launch of negotiations for the Indonesia-EU Comprehensive Economic Partnership Agreement (CEPA). It will also promote business-to-business collaborative projects, as a good number of deals are expected to be signed during the visit, the Foreign Minister said.-VNA