Indonesia and the EU reach a political agreement to further their free trade pact

Ursula von der Leyen, president of the European Commission, announced on Sunday that a political agreement had been achieved to further the free trade agreement between the EU and Indonesia.

The trade agreement, known as the Comprehensive Economic Partnership Agreement or CEPA, will increase opportunities in important sectors like the automobile and agricultural industries. Added von der Leyen.

At a news conference with Indonesian President Prabowo Subianto, she stated, “This agreement comes at the right time because the new agreement will open new markets. There is a lot of untouched potential in our trade relationship.”

“Europe holds great significance for us. We want to see greater European participation and presence in our economy because of this,” Subianto stated. “I think that in this era of instability or confusion, we are setting a right example.”