CEPA with UAE to bring economic prosperity to Indonesian SMEs, common people: Indonesian Ambassador

CEPA with UAE to bring economic prosperity to Indonesian SMEs, common people: Indonesian Ambassador

Abu Dhabi: The Comprehensive Economic Partnership Agreement (CEPA) signed between Indonesia and the UAE on Friday will bring economic prosperity to a large section of the Indonesian population, a top Indonesian diplomat told the Emirates News Agency (WAM). "The Small and Medium Enterprises (SMEs) in agriculture sector, and many industries that use petrochemicals, which employ a large number of people, will be the immediate beneficiaries of this CEPA. Increased business and new opportunities for SMEs will translate into economic prosperity for their employees and open up new job prospects as well," said Husin Bagis, the Indonesian Ambassador to the UAE. Detailing the potential boost to SMEs in agriculture sector, he pointed out in an exclusive interview with WAM that Indonesia is one of the largest producers and exporters of crude palm oil (CPO) and rubber. However, Indonesian CPO and rubber exports to the UAE currently constitute a small market share only, but the reduced or zero import tariff under the CEPA is expected to boost their exports to the UAE, Bagis noted. The CPO companies in Indonesia produce one million tonnes of oil a year. "If the UAE increases its imports of CPO up to at least 200,000 tonnes, those