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Jakarta Post

Deepening Indonesia-EU trade, investment

  • Vincent Guerend

Jakarta   /   Tue, July 19 2016   /  07:39 am

On July 18, EU trade commissioner Cecilia Malmström and Indonesian Trade Minister Thomas Lembong launched negotiations for a comprehensive economic partnership agreement (CEPA) between the EU and Indonesia. Why has this step been taken and why is it so important for both sides?

First let’s take a look at ourselves. The EU is the largest economy in the world with a gross domestic product (GDP) per head of €25,000 (US$27,640) for its 500 million consumers. It is also the world’s largest trading block (accounting for 15 percent of global trade in goods and 23 percent of global trade in services in 2015) and ranks first in both inbound and outbound international investments. Indonesia has the fourth largest population in the world and is by far the largest economy in ASEAN.

It is therefore no surprise that Indonesia-EU trade has been thriving over the last few years in ...