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Market Chatter: Indonesia Endorses Plan for Trade Agreement Between ASEAN and EU

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Indonesia supports ASEAN's proposal to sign a trade pact with the European Union, The Jakarta Globe reported Wednesday.

The parties, which are yet to decide when to begin formal negotiations, reiterated their resolve to enter a bloc-to-bloc free trade agreement at ministerial talks held Tuesday, according to the report.

The parties are working toward this in the longer term, according to a 63-point joint statement released after the talks.

Deputy Foreign Minister Arrmanatha Nasir also indicated that a strategic agreement was in the works and would expand market access for ASEAN and EU businesses.

EU Official Kaja Kallas told reporters following the talks that "the EU is and will remain a reliable and predictable partner" to ASEAN, The Jakarta Globe reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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