Indonesia records Middle East’s first bilateral trade negotiation with UAE

Jakarta (Indonesia Window) – The governments of Indonesia and the United Arab Emirates (UAE) held the first round of negotiation on the Indonesia-UAE Comprehensive Economic Partnership Agreement (IUAE-CEPA) on September 2-4, 2021 in Bogor city, West Java province.

The UAE is the first country from the Gulf region to establish bilateral trade negotiation with Indonesia.

The IUAE-CEPA is an important effort of both countries to increase trade and investment.

Improving the performance of those two sectors is very much needed as it is among the efforts to restore the economy in the midst of the continuing COVID-19 pandemic.

The IUAE-CEPA negotiation was officially launched by Indonesian Minister of Trade Muhammad Lutfi and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi, on Thursday (Sep. 2) in Bogor.

“The results of the first round of negotiation will be followed up with technical and intercession meetings to discuss potential cooperation that could be carried out, for instance supporting small and medium industries, electronic commerce, and developing halal industry,” Lutfi said in a written statement, Monday (Sep. 6).

The result of the first round of IUAE-CEPA negotiations has also been reported to the Indonesian President Joko Widodo by the two ministers during the courtesy visit of Minister Thani Al Zeyoudi, at the Merdeka Palace, Jakarta, Friday (Sep. 3).

“The president very positively welcomes the start of the CEPA negotiation between the two countries and hoped that the negotiation could be completed within one year,” Lutfi said.

The UAE is one of Indonesia’s non-traditional export markets, which is a hub for international trade in the Middle East region.

Meanwhile for the UAE, the IUAE-CEPA is the first bilateral trade negotiation with its trading partners in the Asian region.

Reporting by Indonesia Window