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New trade minister aims to conclude IEU-CEPA in first 100 days
Budi Santoso, who has been promoted from trade secretary-general to minister, is aiming to produce the IEU-CEPA during his first 100 days in office under a new target to conclude talks by the end of this
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European Union flags flutter on Sept. 12, 2024 at the European Central Bank in Frankfurt, Germany, during a press conference on the bank’s Governing Council monetary policy meeting. (Reuters/Jana Rodenbusch)
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ewly installed Trade Minister Budi Santoso is aiming to conclude the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) within his first 100 days in office.
Budi, who previously served as the ministry’s secretary-general, revealed on Monday that negotiations were continuing on the planned deal, which has dragged on for years.
He added that the crux of the matter was ensuring that no party suffered losses under the deal.
“Some [issues] are still pending. If we want to wrap things up, it must be equally beneficial [for both parties], so we are still reviewing [the matter]. Hopefully, there will be a resolution,” Budi said, speaking after the handover ceremony in Jakarta, as quoted by Bisnis.com.
“We don’t want, for example, to be at a loss and whatnot. There must be a solution. But we’ll keep on negotiating,” he said.
He also said that under his leadership, the Trade Ministry would seek to conclude the CEPA negotiations before the year-end.
The two sides had said earlier that they were looking to conclude the talks before the regime change in both Jakarta and Brussels.
