Negotiations on the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA) are nearly 90% complete, with the deal expected to be finalised this month, according to Indonesia’s Trade Minister Zulkifli Hasan.
Indonesia's Trade Minister Zulkifli Hasan (in green jacket) during a meeting with Commission VI of the House of Representatives in Jakarta on September 4 (Photo: Antara)
Jakarta (VNA) 🌄- Negotiations on the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA) are nearly 90% complete, with the deal expected to be finalised this month, according to Indonesia’s Trade Minister Zulkifli Hasan.
He made the statement after attending a meeting with Commission VI of the House of Representatives on September 4.
The minister made a similar statement on August 29, saying that negotiations on trade agreements, including IEU-CEPA, must be concluded before the new government led by President-elect Prabowo Subianto comes into office in October. Indonesia's trade balance has posted a surplus for 51 successive months and the country is pushing for further growth by accelerating negotiations on economic cooperation agreements, he noted.
After nine years of negotiations, Indonesia hopes to ratify the IEU-CEPA before major political changes. Once it takes effect, Indonesia can expect to have its products exempted from import duties when entering European markets.
Meanwhile, the Trade Minister's expert for international trade, Bara Krishna Hasibuan, said that the agreement is a good opportunity to boost trade for both Indonesia and the EU.
In addition to making import duty exemption possible, the IEU-CEPA is also expected to help Indonesia and the EU bridge differing views on the EU Deforestation Regulation (EUDR) and Carbon Border Adjustment Mechanism (CBAM), he added./.
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Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
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Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
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