Another Southeast Asian country expects to complete FTA with EU by the end of 2023

Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto expressed hope that negotiations on the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) will be completed by the end of 2023.

Thêm một quốc gia Đông Nam Á kỳ vọng hoàn tất FTA với EU vào cuối năm 2023

Negotiations on the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) are expected to be completed by the end of 2023. (Source: Reuters)

Speaking at a reception for a delegation from the European Federation of the Sports Industry (FESI) on June 17, Airlangga affirmed that the IEU-CEPA can help promote trade and investment cooperation between Indonesia and the EU, especially in the sports industry, which has shown a positive trend.

“The IEU-CEPA negotiations are expected to be completed by the end of this year, in line with the commitment made by the two leaders during their bilateral meeting on the sidelines of the expanded G7 Summit in Hiroshima, Japan, a short time ago,” said Mr. Airlangga.

Airlangga said FESI has an important role to play in finding a solution for the IEU-CEPA negotiations, with the 15th round of negotiations set to take place in July. The two sides also agreed to work together to develop an Indonesian roadmap to boost the sportswear industry, which could create millions of jobs.

Mr. Airlangga also expressed his hope that existing sportswear manufacturers in other Asian regions will diversify their supply chains by increasing their investments in Indonesia. This is especially beneficial in the context that Indonesia has implemented many structural reforms to create a good investment environment and facilitate businesses.

The senior minister also hopes that FESI will convince EU businesses to take an interest in IEU-CEPA, thereby promoting cooperation between the private sectors of the two sides, especially for companies operating in the sportswear sector.

Finally, Mr. Airlangga emphasized that Indonesia appreciates FESI's support for the domestic sportswear manufacturing industry, as well as FESI's push for the European Commission to accelerate the IEU-CEPA negotiations.

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