FX.co ★ EU, Indonesia Advance Trade Deal to Unlock New Opportunities

The European Union and Indonesia have successfully reached a political consensus to further their Comprehensive Economic Partnership Agreement (CEPA), as announced by European Commission President Ursula von der Leyen on Sunday. This agreement seeks to enhance trade in crucial sectors such as agriculture and automotive industries. "There is significant untapped potential in our trade relations, and this agreement is timely," von der Leyen stated during a press conference with Indonesian President Prabowo Subianto, highlighting its significance in unlocking new market opportunities. President Prabowo expressed his approval, stating, "We consider Europe to be of great importance to us. That's why we welcome increased European involvement and participation in our economy." He further emphasized that, amidst global uncertainties, this agreement serves as "a positive precedent."