Indonesia said on Saturday that free trade negotiations with the European Union, which have been ongoing for nine years, are expected to be concluded by the end of June.
Airlangga Hartarto, the chief economic minister for Southeast Asia’s biggest economy, met with EU Commissioner for Trade Maros Sefcovic in Brussels on Friday.
“Indonesia and the European Union have agreed to conclude outstanding issues and we are ready to announce a conclusion of substantial negotiations by the end of June 2025,” Airlangga Hartarto said in a statement.
Indonesia will get zero tariffs for 80 per cent of its export products to the EU and removal of non-tariff barriers, as it pushes for bigger market access for footwear, garments, palm oil and fishery products, Airlanga told a press conference later on Saturday.
The EU has discussed Jakarta’s rules on mandatory use of local content in products sold in the Indonesian market, the automotive industry, trade of critical minerals and investment facilities, Airlangga said.
Indonesia and the EU have previously disagreed on EU trade rules for products with potential links to deforestation that could affect Indonesian palm oil.