Indonesia, UAE Kick Off Negotiation of Comprehensive Economic Partnership Agreement
President Joko “Jokowi” Widodo has expressed his appreciation for the negotiation of Indonesia-United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA).
The President delivered the statement during his meeting with Minister of State for Foreign Trade of the United Arab Emirates Thani bin Ahmed Al Zeyoudi on Friday (09/03) at the Merdeka Palace, Jakarta.
“During the meeting, the President said he welcomed the launching of the Indonesia-UAE CEPA negotiation and the beginning of the first round of the negotiation. The President also expressed hope that the negotiation can be completed in less than a year,” Foreign Minister Retno LP Marsudi said in a press conference after accompanying the President in the meeting.
Retno also said that the existing trade value of Indonesia and the UAE is US$ 2.9 billion and the CEPA is expected to increase the export twofold or threefold.
The UAE will become the main partner for investment in Indonesia and is expected to invest in infrastructure, health sector as well as green and sustainable economy.
“The President also expressed his appreciation for the UAE’s support for Indonesia during the pandemic, including the donation of 750,000 doses of the Sinopharm vaccine,” the Foreign Minister said.
In the meantime, Minister of Trade Muhammad Lutfi said that the trade agreement is very important for Indonesia to increase export to non-traditional destinations, including countries in Africa and Arabian Peninsula.
“We will conclude this agreement not later than one year. We hope that on November 4, during the President’s visit to the UAE, this agreement will be in the final stage,” the Minister said. (DND/TGH/UN) (RI/MMB)