Indonesia, EU agree to move forward on trade deal
Indonesian President Prabowo Subianto met with European Commission President Ursula von der Leyen in Brussels on Sunday.
They said they have sealed a political agreement on a Comprehensive Economic Partnership Agreement. The two sides are aiming for a final agreement in September.
Subianto said, "We consider Europe to be a very important for us. That's why we would like to see more European presence and more European participation in our economy."
Von der Leyen added that the new agreement will "open new markets" and create "more opportunities" in key industries. She said, "Businesses active in agriculture and automotive and in services will massively benefit from it."
The United States is a major market for Indonesian and EU exports. But the two are trying to diversify their trade ties amid worries about the economic impact of the Trump administration's tariff policies.
Thailand and Malaysia are also accelerating negotiations with the EU on free-trade agreements.
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