Nusa Dua, Bali, Sept. 24 -- The Indonesian government and the European Union (EU) have signed the Indonesia-EU Comprehensive Economic Partnership Agreement (IEU-CEPA), aimed at boosting the labor market and supporting micro, small, and medium enterprises (MSMEs).

"We are targeting this agreement to take effect on January 1, 2027," said Coordinating Minister for Economic Affairs Airlangga Hartarto after the signing ceremony on Tuesday.

The deal was signed with European Commission Commissioner for Trade and Economic Security Maros Sefcovic and witnessed by 21 EU ambassadors.

Hartarto explained that both parties' parliaments must ratify the agreement before implementation. For the EU, the text will be translated into 27 languages before r...