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Jakarta Post

Brexit may affect Indonesia-EU negotiation process: Minister

Ayomi Amindoni (The Jakarta Post)
Jakarta
Tue, June 28, 2016

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Brexit may affect Indonesia-EU negotiation process: Minister Trade Minister Thomas Lembong speaks to journalists at his office in Jakarta. He said on Monday that the UK's decision to depart from the European Union was likely to postpone the negotiation process of the Indonesia-EU Comprehensive Economic Partnership Agreement (IE-CEPA). (ANTARA FOTO/Puspa Perwitasari)

T

he UK's decision to depart from the European Union is likely to postpone the negotiation process of the Indonesia-EU Comprehensive Economic Partnership Agreement (IE-CEPA), Trade Minister Thomas Lembong has said.

Thomas considered Britain leaving the EU, known as Brexit, as an event that would significantly affect the global economy, particularly the UK and the EU.

The EU Commission will now focus on its divorce process with the UK, which is likely to affect the ongoing free trade agreement negotiation process between the EU and Indonesia, said Thomas, adding that the Indonesian government, however, still wants to continue the negotiation process.

"It is likely the negotiation will be delayed, but I very much understand the current situation," Thomas said at the House of Representatives complex.

The government will coordinate with the EU Embassy in Indonesia to deal with the issue and keep monitoring the progress of Brexit, Thomas added. “The coming days will be very critical. We will pay attention to the response of EU officials within two days," he added.

Regarding the impact of Brexit on trade ties between Indonesian and the UK, he said, it would depend on the terms of the UK’s departure from the 28-nation bloc – primarily whether the country will leave or remain in the EU single market.

British citizens voted 51.9 percent to 48.1 percent Thursday in favor of ending the country’s 43-year membership of the EU, a result that has triggered financial turmoil around the world and the resignation of Prime Minister David Cameron. (bbn)

 

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