EU, Indonesia Set to Begin Trade Talks

The EU and Indonesia have now launched negotiations for a Comprehensive Economic Partnership Agreement (CEPA), officials confirmed this week, with the first round of talks due before year’s end. In a joint statement issued on 18 July, EU Trade Commissioner Cecilia Malmström and Indonesian Minister of Trade Thomas Lembong highlighted the mutually beneficial nature such an accord could have for both economies, which together would cover a population of 750 million people. "Our trade relationship has enormous untapped potential. The EU – the world's largest trading block – and Indonesia – the largest player in the dynamic region of South-East Asia – have lots to gain from a deeper trade and investment relation," they said. The planned bilateral pact would cover both trade and investment, and include services, government procurement, competition policy, economic and social development, and intellectual property rights, among other subjects. EU-ASEAN trade ties One of the ten member states of the Association of Southeast Asian Nations (ASEAN), Indonesia is the region's largest and most populated economy, and the sixth to begin bilateral free trade negotiations with the EU. The EU has already reached deals with Singapore and Vietnam, though these are not yet in force. The EU-Vietnam...