Ladies and gentlemen, it is a profound honour to stand here today, alongside Minister Airlangga at this landmark ceremony.
I want to extend my sincere gratitude to Minister Airlangga – your personal dedication and constructive engagement have been instrumental in bringing us to this historic moment.
I also appreciate your generous hospitality in welcoming us to beautiful Bali.
This is my first visit to this vibrant region, and I could not be more thrilled and prouder that it coincides with todays truly momentous occasion: the conclusion of nine years of complex, diligent negotiations of the EU-Indonesia Comprehensive Economic Partnership Agreement.
We meet at a pivotal moment in global trade – a time marked by disruption, uncertainty, and rapid change.
Yet today, by finalising this agreement, the EU and Indonesia send a powerful message to the world: we stand united in our commitment to open, rules-based and mutually beneficial international trade.
This agreement reflects not only the tireless work of dedicated teams, but above all, our shared conviction in the potential of cooperation.
The European Union and Indonesia already enjoy strong trade ties.
Indonesia – the largest economy and biggest consumer market in Southeast Asia – is the EUs fifth largest trading partner in the region.
In 2024 alone, our exports to Indonesia amounted to nearly 9.7 billion euros, supporting over 15,000 European SMEs, and approximately 200,000 jobs across Europe.
Looking at the broader picture: goods trade exceeded 27 billion euros last year, with Indonesia maintaining a goods trade surplus.
Meanwhile, the EU holds a lead in services trade, which added nearly 9 billion euros.
This agreement will help us unlock vast, untapped potential, and comes with a host of benefits for both sides.
By eliminating over 98% of tariffs, it will ignite growth across key sectors – from Indonesias palm oil, textiles, and footwear industries to the EUs agri-food and automotive sectors.
It also safeguards significant number of European and Indonesian geographical indications, protecting unique products and heritage.
Moreover, by the end of 2023, European investment stocks in Indonesia exceeded 25 billion euros – a testament to the confidence European companies have in Indonesias dynamic market.
Our agreement will foster even greater investment flows, strengthening our value chains and creating new opportunities for innovation and growth.
It is worth underlining that the agreement also comes with a full digital trade facilitation package, embracing the growing role of digital trade.
Importantly, this agreement also supports the diversification of supply chains, particularly for critical raw materials, which are vital today and essential for the future. Indonesia is a major global player.
All in all, the EU-Indonesia Comprehensive Economic Partnership Agreement is both balanced and forward-looking, respecting each others priorities and reflecting our shared interests.
We have struck the right equilibrium between ambition and fairness, ensuring that both sides benefit – economically, strategically, and sustainably.
That is how the European Union operates: through genuine partnership, open dialogue, and a commitment to win-win outcomes.
Ladies and gentlemen, I am convinced that todays conclusion of negotiations is just the beginning of an exciting new chapter.
Once ratified and in force, our agreement will serve as a springboard for intensified business collaboration, deeper people-to-people ties, and joint solutions to the pressing global challenges we face.
Together, we commit to a future built on openness, partnership, and shared prosperity – a future where the EU and Indonesia grow stronger, side by side, as trusted partners on the world stage.
Thank you.
