VOI - Voice of Indonesia | RRI - Radio Republik Indonesia

The Comprehensive Economic Partnership Agreement (CEPA) between the government of Indonesia and the European Union initiated since April 2016 marks the beginning of a new era of cooperation between Indonesia and the European Union. The document on the scope of the cooperation is intended as a basis for starting CEPA negotiations. From an Indonesian perspective, the Indonesia and European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) is a reflection of Indonesia's commitment to realize Indonesia as a more open and competitive economy. This was stated  by Bambang Priambodo, Deputy of Economic Affairs at the Ministry of Planning and National Development in a seminar  ‘the first National Dissemination for Aid Program in the ARISE + Indonesia Trade Sector in Jakarta, Wednesday (09/25). He also said that Indonesia and the European Union are negotiating a Comprehensive Economic Partnership Agreement (CEPA) to facilitate and create new market access.

“Indonesia and the European Union are in the process of negotiating a Comprehensive Economic Partnership Agreement with the main objective to facilitate and create the new market access, to increase trade between the EU and Indonesia as well as to expand the direct investment,” said Bambang Priambodo.

Bambang Priambodo further explained that Indonesia is a member of the G20 and Indonesia's economy is considered as the 16th largest in the world. He also viewed that with GDP growth of 5.6% over the last nine years, and a population of nearly 270 million, Indonesia needs to develop sustainable measures. Bambang also said that Indonesia still needs to invest US$ 1,000 million dollars in infrastructure in the next five years from the private sector, and mainly from foreign investors, because the government can only cover and provide less than 40% of this amount. (VOI/AHM)