medcom.id, Jakarta: Indonesia and the European Union (EU) have agreed to launch Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) negotiation.
Indonesia and the EU previously has completed the preliminary negotiation in April 2016.
"Hopefully, the official negotiation can be concluded in two years," said Minister of Trade Thomas Lembong at his office, on Monday (7/18/2016).
Lembong believes the trade agreement will boost Indonesia's economy. It will increase Indonesia's exports and attract more investments to the country.
"We expect the EU to establish Indonesia as regional production base," he continued.
Trade between Indonesia and the EU reached USD26.1 billion. Indonesia enjoyed USD3.5 billion trade surplus with the economic bloc.
Meanwhile investments from the EU to Indonesia reached USD9.8 billion from 2005 to 2015.
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