BRUSSELS (Reuters) -A political agreement was reached to advance the EU-Indonesia free trade deal, European Commission President Ursula von der Leyen said on Sunday.
The trade deal, dubbed CEPA for Comprehensive Economic Partnership Agreement, will create more opportunities in key industries such as agriculture and the automotive sector, von der Leyen added.
“There’s a lot of untouched potential in our trade relationship and therefore this agreement comes at the right time because the new agreement will open new markets”, she said at a press conference with Indonesian President Prabowo Subianto.
“We consider Europe to be very important to us. That’s why we would like to see more European presence and more European participation in our economy,” Subianto said. “I think that in this era of instability or confusion, we are setting a right example.”
(Reporting by Julia Payne, Charlotte Van Campenhout, Editing by Louise Heavens)
