The president is optimistic that the negotiations would be completed in less than a year

Jakarta (ANTARA) – President Joko Widodo (Jokowi) is optimistic that trade value between Indonesia and the United Arab Emirates (UAE) would increase two to three folds through the Indonesia–United Arab Emirates Comprehensive Economic Partnership Agreement (IUAE-CEPA).

Foreign Minister Retno Marsudi echoed the president’s aspirations after accompanying him to welcome Minister of State for Foreign Trade of the United Arab Emirates, Thani bin Ahmed Al Zeyoudi, at the Merdeka Palace here on Friday.

“The president also said that trade between Indonesia and the UAE can still be increased, as the trade figure has only reached US$2.9 billion. With the CEPA, the president expects the potential for trade to increase by two to three folds,” Marsudi stated at an online press conference with Trade Minister Muhammad Lutfi.

The president welcomed the launch of negotiations on the Indonesia-UAE Comprehensive Economic Partnership Agreement (IUAE-CEPA).

The negotiations are expected to be completed in less than a year, so that in the subsequent few months, it can offer significant results for both countries.

“The president is optimistic that the negotiations would be completed in less than a year,” the minister remarked.

Meanwhile, Trade Minister Muhammad Lutfi is sanguine that the IUAE-CEPA negotiations can be completed in the first stage, so that the negotiation process would not exceed a year.

“During the president’s visit to the UAE on November 4, this agreement is expected to be completed or reach the finalization stage,” he stated.

Source: ANTARA News