MNI BRIEF: EU, Indonesia Conclude Trade/Investment Deal

The European Commission has announced the finalisation of a Comprehensive Economic Partnership and an Investment Protection Agreement between the EU and Indonesia. 

The EC described the deal as a "key milestone delivering on the EU's strategy of diversification and partnerships," with Commission President Ursula von der Leyen saying Brussels had "made a commitment to double down on diversification and partnerships, to further support EU jobs and boost growth." 

The deal removes 98.5% of duties on current tariff lines facing EU exports and simplifies export procedures, including cars and farm products, and opens new opportunities for EU investments in strategic sectors in Indonesia, such as electric vehicles, pharmaceuticals and electronics, the EC said.