The Indonesian and European Union have reached an agreement establishing a long-term trade relationship. According to a statement released by the Indonesian Minister of Economic Affairs, around 80% of Indonesian exports to the EU will be tariff-free following the implementation of the new rules. This significant shift is expected to positively impact the nation’s top export sectors, particularly palm oil, footwear, textiles, and fisheries. The agreement aims to foster economic growth and strengthen trade ties between the two regions. Further details regarding the specific terms and implementation timeline are still being finalized.
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EU-Indonesia Trade Agreement – Tariff-Free Export Initiative
