The Delegation of the European Union (EU) to Indonesia, in collaboration with the Bali Chamber of Commerce, conducted today (29/11) a business meeting. The purpose of the meeting and the working visit to Bali Province was to raise awareness on the ongoing Comprehensive Economic Partnership Agreement (IEU-CEPA) negotiations between the EU and Indonesia and to discuss bilateral trade and investment opportunities with stakeholders in the province.
Bali has huge potential in tourism industry, inasmuch as the resources are readily available in this province. Aside from the abundance of creative human resources, resources in form of area and diversity that can attract tourists can be easily located in this province. However, tourism is severely struck by the pandemic, and Bali experienced a significant drop in tourist arrivals, with over 90% decrease. The government is currently focusing on reviving the tourism industry, and increasing investment in infrastructures.
The EU Ambassador to Indonesia and Brunei Darussalam, H.E. Vincent Piket said, "The EU supports Bali’s efforts to revive the tourism sector from the impact of pandemic. The province has untapped potential for greater trade and investment with Europe. The IEU-CEPA, currently being negotiated, will increase trade and investment, contributing to job creation and economic development, in Bali and in Indonesia as a whole."
“On IEU-CEPA, the 11th round of negotiations was held earlier this month. There has been steady progress, but there is still work to do. Both the EU and Indonesia have the common objective to conclude the IEU-CEPA negotiations rapidly. A study by the World Bank indicated that, once up and running, the CEPA will bring 2.1% GDP growth for Indonesia by 2032. That amounts to €5 billion extra GDP, year after year,” said Ambassador Piket.
In their visit to the Province, the EU Delegation, in partnership with the Bali Provincial Government and the Chamber of Commerce and Industry (KADIN) Bali Province, organised a panel discussion on the benefits of the CEPA in improving economic relation between EU Member States and Indonesia. The panelists include Marika Jakas, Head of Trade and Economic Section of the EU Delegation to Indonesia; Ni Made Ayu Marthini, Director Bilateral/ Negotiation of the Indonesian Ministry of Trade; Anne Sutanto, Chairman of the Standing Committee for Free Trade Agreements of KADIN Indonesia; and Wichard von Harrach, Vice Chairman of the European Chamber of Commerce in Indonesia (EuroCham).
A talkshow was also held to discuss sustainable investment and trade partnership between the EU and Indonesia. This discussion brought together Thierry Beranger, Policy Officer and Investment Negotiator at the European Commission’s Directorate General of Trade; Putri Suastini Koster, Head of Dekrasnada; Melanie Masriel, Director of Communications, Public Affairs and Sustaiability at L’Oreal Indonesia; and Agus Maha Usadha, Director of PT Property Media Indonesia.
The talkshow revealed a greater potential for partnership in sustainable trading and investment in Bali Province. Demand for manufactured, agricultural, furniture and other products in the EU is expected to increase in the next few years driven by the post-pandemic recovery. With a large customer base and high purchasing power, the EU is an attractive option for Bali to expand and diversify its export market.