COORDINATING MINISTRY FOR ECONOMIC AFFAIRS
REPUBLIC OF INDONESIA

PRESS RELEASE
HM.4.6/124/SET.M.EKON.3/04/2023

Coordinating Minister Airlangga Encourages Completion of IEU-CEPA in a Forum Held by EuroCham

Jakarta, April 6th, 2023

The strength of the national economy is the result of implementing a policy mix by the Government which cannot be separated from efforts to strengthen economic relations that are forged between Indonesia and other countries. For example, with the European Union, which is one of Indonesia's main markets in the world, the two parties often sit together to resolve various trade issues and push for Indonesia – European Union Comprehensive Partnership Agreement (IEU-CEPA) agreements.

Coordinating Minister for Economic Affairs Airlangga Hartarto in a public discussion and launch of the 2023 EuroChamp Position Papers, Thursday (6/04), said that a substantial acceleration of the completion of the IEU-CEPA negotiations must be carried out. This is important to maximize the huge economic potential between Indonesia and the European Union.

"During President Joko Widodo's meeting at the European Union, we have targeted the completion of the IEU-CEPA negotiations this year," said Coordinating Minister Airlangga.

Another effort made by Indonesia to continue to establish economic relations with other countries, while at the same time promoting Indonesia's competitiveness, is Indonesia's participation in the Hannover Messe international exhibition in Germany. Coordinating Minister Airlangga said that in the last three years Indonesia has twice become a partner country in the Hannover Messe.

"This is Indonesia's commitment to continue to be present in the European Union market," said Coordinating Minister Airlangga.

Apart from discussing Indonesia's commitment to establishing good relations with trading partner countries, the Coordinating Minister Airlangga on this occasion also explained the strategy undertaken by the Government so that the Indonesian economy continues to grow with quality. The government implements a flexible, responsive and accommodative fiscal and monetary policy mix that encourages consumption and investment. Coordinating Minister Airlangga explained that Indonesia's economic growth itself was driven by positive growth in consumption, manufacturing activity, supply chain, investment, and exports.

The government continues to encourage investment in Indonesia through structural reforms and a number of other policies, including the establishment of Special Economic Zones (KEK). SEZ was formed to maximize industrial activities, exports, imports, and other economic activities with high economic value.

“Investment community is a priority for the Government because investment creates jobs and jobs are needed by the Indonesian people," stressed Coordinating Minister Airlangga.

Then regarding the 2023 EuroChamp Position Papers, Coordinating Minister Airlangga welcomed the four EuroCham recommendations, namely global value chain, support the existing investor, regulatory certainty and consistency, supporting investment on innovation, and sustainability.

"I think (the recommendation) is in line with the Government's program," concluded Coordinating Minister Airlangga.

Also attending the occasion were Deputy Minister of Trade, EU Ambassador to the Republic of Indonesia and Brunei Darussalam, Chairman of EuroCham and President of HSBC, and Assistant Deputy for European, African and Middle Eastern Economic Cooperation at the Coordinating Ministry for Economic Affairs. (ltg/dlt/map/fsr)

***

Head of Communications, Information Services, and Meetings Bureau
Coordinating Ministry for Economic Affairs of the Republic of Indonesia
Haryo Limanseto

Website: www.ekon.go.id
Twitter, Instagram, Facebook, Tiktok, & Youtube: @PerekonomianRI
Email: humas@ekon.go.id
LinkedIn: Coordinating Ministry for Economic Affairs of the Republic of Indonesia