Gov’t Hopes Indonesia-UAE CEPA Negotiations Can Be Completed in Less Than 1 Year

Jakarta: Minister of Foreign Affairs Retno Marsudi and Minister of Trade M. Lutfi accompanied President Joko Widodo to receive the Minister of State for Foreign Trade Affairs of the United Arab Emirates, Dr. Thani bin Ahmed Al Zeyoudi at the State Palace Friday, September 3, 2021.
 
The discussion on the Indonesia United Arab Emirates-Comprehensive Economy Partnership Agreement (IUAE-CEPA) is a major concern.
 
"In this meeting, of course, the president said that it is not easy at this time to arrange overseas trips abroad and of course this visit provides strategic value and reflects the commitment of the two countries to increase trade in the context of post-pandemic economic recovery," said Foreign Minister Retno in an online statement, quoted Friday.

"The President welcomes the launch of the Indonesian negotiations and the first round of negotiations has been carried out. It is hoped that these negotiations can be carried out or can be completed in less than 1 year," he added.
 
The conclusion of the negotiations quickly, greatly affected the trade relations between the two countries. So that in the next few months the results of the negotiations will be able to achieve significant progress.
 
So far, the trade between Indonesia and UAE can still be increased even more because the trade figure has only reached USD2.9 billion. With the CEPA, the president expects at least a two- to three-fold increase in trade.
 
IUAE-CEPA is also expected to increase investment cooperation. Indonesia hopes that the UAE will become the main partner for investment in Indonesia in two other fields besides infrastructure, which the President expects for investment from the United Arab Emirates, namely in the field of health security and investment in the green economy.
 
At the close of the meeting, President Joko Widodo also expressed his hope that there would be significant progress towards Indonesia-UAE cooperation for the Indonesian Sovereign Wealth Fund. Besides also expressing appreciation for the UAE's support for Indonesia during the pandemic, including the donation of 750,000 doses of the Sinopharm covid-19 vaccine.
 
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