"Today, I will meet Indonesian Trade Minister Enggartiasto Lukita in Jakarta for negotiations on the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) that have neared conclusion," Australian Minister for Trade, Tourism and Investment Steven Ciobo was quoted by the Australian Embassy on its official website on Wednesday (Sept 20).
The agreement will create a framework for a new era of closer economic engagement between our countries. This will strengthen and boost Australia's trade and investment relationship with our largest neighbor and open the door for Australian businesses to explore the vast opportunities to our north.
As one of the fastest growing economies in the world, Indonesia presents significant opportunities for Australia as demand grows for our services, goods, and products. Indonesia has a rapidly growing consumer base and is projected to be the worlds fourth largest economy by 2050.
Indonesia is currently Australia's 13th largest trading partner, with two-way trade worth AU$15.4 billion in 2016. There is substantial scope to grow our trade and investment relationship through IA-CEPA. (*)
Editor: Vicha Faradika