Jakarta (VNA) - The Indonesian Chamber of Commerce and Industry (Kadin) expressed optimism that the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA) will boost trade between the two sides.
"This is a breakthrough in international trade for Indonesia and the EU, with negotiations taking almost a decade to conclude," Kadin Chairperson Anindya Bakrie said on July 14.
Bakrie remarked that in 2024, two-way trade reached 27.3 billion EUR (30.1 billion USD). He cited the EU-Vietnam CEPA as an example, saying trade between the two parties grew by 20%, from 56 billion EUR before the signing of the agreement to 67 billion EUR after the ratification.
He emphasised that in the current era, Indonesian companies and Kadin members must diversify. Businesses should actively seek new markets to expand international trade and drive Indonesia's economic growth.
Meanwhile, Investment and Downstreaming Minister Rosan Roeslani stated that the IEU-CEPA will be signed in September.
According to the minister, Indonesia's trade with the EU could double from 30 billion USD to 60 billion USD once the deal is enforced./.
