On June 29, 2026, the European Commission presented the Comprehensive Economic Partnership Agreement and a separate Investment Protection Agreement with Indonesia to the Council for signature and conclusion, following the conclusion of negotiations in September 2025 after nearly a decade of talks. The IPA protects investments against discrimination, uncompensated expropriation, and denial of justice while preserving the right to regulate, but begins life with state-to-state dispute settlement only: the parties will negotiate a standing investor-state mechanism after entry into force, aiming to conclude within three years and to reflect ongoing international reforms. Indonesian officials target signature in the fourth quarter of 2026 and implementation in January 2027, after consent by the European Parliament and ratification by Indonesia’s legislature. The package removes duties on 98.5% of tariff lines and is framed around securing supply chains for energy and critical raw materials. It is the EU’s most ambitious agreement with a Southeast Asian economy, and its deferral of investor-state dispute settlement to future negotiations is telling: the Union is now drafting around reforms that remain unfinished at UNCITRAL.