EU, Indonesia ink trade deal after years of talks

Contributing sentiments towards policy:

60% : By finalizing the agreement, the EU and Indonesia are sending a "powerful message to the world that we stand united in our commitment to open rules-based and mutually beneficial international trade," Šefčovič said at the ceremony.
59% : Officials are aiming to ratify the trade pact by Jan. 1, 2027, Airlangga Hartarto, Indonesia's coordinating minister for economic affairs, said at a signing ceremony Tuesday, adding that Jakarta is looking forward to strengthening the supply chain with Europe, including for critical minerals, renewable energy and investment.
57% : For one, Indonesia will gradually reduce its tariff on imported cars, opening the door for EU auto exports and investment in electric vehicles, among others, the commissioner said.
55% : The EU is Indonesia's fifth-largest trading partner, with trade between the two sides reaching reached over 27 billion euros last year, equivalent to about US$32.22 billion.
52% : The pact, which Jakarta and the EU have been negotiating for over nine years, was inked Tuesday during European Commissioner for Trade & Economic Security Maroš Šefčovič's visit to Indonesia.
52% : Thailand, the Philippines and Malaysia are also in talks with the EU, while China and the Association of Southeast Asian Nations earlier this year completed negotiations to upgrade their trade pact.
51% : "EU exporters alone stand to save more than 600 million euros in customs duties on goods shipped to Indonesia," he said, adding that the agreement helps secure critical raw materials for green and digital technologies.
45% : Asian countries are strengthening ties with non-U.S. partners, and rolling out reforms and stimulus at home to boost growth, DBS senior economist Radhika Rao said in a note.

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