Indonesia's Minister of Trade, Zulkifli Hasan, has stated that Indonesia is ready to conclude negotiations on the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) by 2024. During a visit from the European Parliament's Committee on International Trade (INTA), Zulkifli requested support from the European Parliament, particularly the INTA Committee, in finalizing the negotiations. He also expressed concerns about the European Union's new environmental policies regarding deforestation, which could have negative impacts on Indonesia's agricultural sector, especially for small-scale farmers. Zulkifli emphasized that these policies are not in line with the spirit of cooperation and may adversely affect small-scale farmers. Indonesia hopes that the European Union will reconsider and cancel these regulations.

The meeting also discussed dispute settlement at the World Trade Organization (WTO). Zulkifli affirmed Indonesia's support for multilateral trade systems, including the principles, rules, and provisions of the WTO. He emphasized that Indonesia respects the freedom of each country to progress based on its capabilities and resources, and expects other countries to respect Indonesia in return. Currently, there are three ongoing cases between Indonesia and the European Union at the WTO: the ban on Indonesian nickel exports (DS592), the European Union's policies on palm oil products (DS593), and the imposition of compensatory and anti-dumping duties on Indonesian steel by the European Union (DS616).

From January to April 2023, the total trade between Indonesia and the European Union amounted to USD 10.28 billion, with Indonesia enjoying a trade surplus of USD 1.54 billion. In 2022, the total trade between the two countries reached USD 33.16 billion, representing a 13.98% increase compared to the previous year, with Indonesia maintaining a surplus of USD 9.83 billion.

Source:
https://m.antaranews.com/amp/berita/3600237/mendag-indonesia-siap-selesaikan-ieu-cepa-pada-2024