President Prabowo Subianto and President of the European Commission Ursula von der Leyen have announced the conclusion of negotiations on the Comprehensive Economic Partnership Agreement (CEPA) between Indonesia and the European Union (EU), following approximately 10 years of deliberations between the two sides. 

President Prabowo made the announcement regarding the outcome of the CEPA negotiations during a joint statement with President von der Leyen at the European Commission headquarters in Brussels, Belgium, on Sunday, July 14. 

"Today we achieved a breakthrough—after 10 years of negotiations, we concluded the Comprehensive Economic Partnership Agreement (CEPA), which is essentially a free trade agreement. We have reached many, many agreements, which in essence will mutually accommodate each other's economic interests, and we have found these interests to be mutually beneficial," said President Prabowo. 

On the same occasion, President Prabowo also stated that throughout the negotiations between Indonesia and the European Union, both sides reached agreement on all points. Therefore, he expressed his happiness with the result of the CEPA negotiations between Indonesia and the EU. 

"In the midst of rising confusion and instability, I think we have set a good example," said President Prabowo. 

In the same statement, the President then expressed his hope that the implementation documents for CEPA could be signed soon. 

"If needed, it could be signed here in Brussels so that I have the opportunity to visit Brussels again," President Prabowo said to President von der Leyen. 

At the same event, European Commission President Ursula von der Leyen stated that Indonesia and the EU had successfully reached a political agreement on CEPA. 

"Mr. President, I would like to thank you for your leadership, and together we are sending a strong signal regarding long-term and predictable cooperation (between Indonesia and the European Union)," said President von der Leyen. 

President von der Leyen continued by noting that the combined population of Indonesia and the EU amounts to 730 million people, with Indonesia being a key supplier of essential goods to Europe. 

However, Indonesia currently ranks fifth among ASEAN countries in terms of receiving the largest foreign direct investment (FDI) from the European Union and is also the EU’s fifth-largest trading partner in Southeast Asia. 

As such, von der Leyen expressed optimism that there remains a wealth of untapped potential, and the CEPA between Indonesia and the EU could open up new business and investment cooperation opportunities between the two parties. 

President Prabowo conducted an official visit to Brussels, Belgium, at the invitation of European Commission President Ursula von der Leyen. While in Brussels, President Prabowo is also scheduled to meet with European Council President António Costa and King Philippe Léopold Louis Marie of Belgium. 

This article is published in partnership with Katadata 

Original article here