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Political Agreement on Free Trade Agreement Between EU and Indonesia
European Union (EU) President Ursula von der Leyen and Indonesian President Prabowo Subianto made a major announcement on Sunday, announcing a political agreement on a free trade agreement. The move comes amid growing uncertainty over US policy on global trade. Speaking to reporters in Brussels, EU President von der Leyen said, “We are living in challenging times, with increased economic uncertainty and political instability. In times like these, partners like us need to work even closer. Today, we are making great progress in our partnership.” She added, “I am pleased to say that we have reached a political agreement on an ambitious free trade agreement.” The 27-nation EU and Southeast Asia’s largest economy, Indonesia, have been negotiating the deal since 2016 to boost trade and investment. The European Commission called Sunday’s agreement a major achievement and said it would be formally concluded in September. Ursula von der Leyen said the agreement came at the right time, sa...