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Indonesia, UAE open talks on comprehensive trade deal
The first round of negotiations on the Indonesia-UAE CEPA launched on Sept. 2 to hammer out details of the historic deal by Sept. 4.
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Trade Minister Muhammad Lutfi (right) shakes hands with UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi at the launch of negotiations over the Indonesia-UAE CEPA on Sept. 2, 2021 in Bogor, West Java. The first round of negotiations is slated to conclude on Sept. 4. (JP/Norman Harsono)
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ndonesia and the United Arab Emirates (UAE) took the next step in their trade and investment love affair on Thursday, when the two countries commenced negotiations on a comprehensive economic partnership agreement (CEPA).
The CEPA is Indonesia’s first such deal with a Middle Eastern country and the UAE’s first with a Southeast Asian country.
The countries’ respective trade ministers opened the first round of negotiations to address issues including investment, halal products, automotive goods, steel, aluminum, gold and e-commerce. The first round of negotiations is slated to conclude on Sept. 4.
"Indonesia is looking for a partner that can become a window to not only the Gulf countries but also beyond, such as Africa and the rest of the world," Trade Minister Muhammad Lutfi said at a ceremony on Thursday to launch the CEPA negotiations in Bogor, West Java.
The UAE is strategically located at the geographical crossroads between the Middle East and Africa, with Dubai serving as a hub for both international finance and air travel.
“We see Indonesia as a vital strategic partner at the center of one of the most exciting, fast-growing regions in the world," said UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi.
The ministers are aiming to conclude the Indonesia-UAE CEPA within a year.
