EU and Indonesia Announce 'Political Agreement' on Trade Deal

AFP | London

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EU chief Ursula von der Leyen and Indonesian President Prabowo Subianto on Sunday announced a "political agreement" to conclude a long-awaited free trade deal, as US leader Donald Trump upends global commerce.

"We're living in turbulent times, and when economic uncertainty meets geopolitical volatility, partners like us must come closer together. So today we're taking a big step forward in this partnership," von der Leyen told journalists in Brussels.

A European Commission statement called Sunday’s agreement a "decisive milestone" towards striking the deal — which is to be concluded in September by EU trade chief Maros Sefcovic and Indonesia's chief economic minister Airlangga Hartarto.

"There's a lot of untapped potential in our trade relationship. And therefore, this agreement comes at the right time, because the new agreement will open new markets," von der Leyen said.

Brussels has stepped up efforts to improve ties with key potential partners around the world as Trump threatens a trade war with sweeping tariffs.