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MEDIA RELEASE
 

IA-CEPA Takes Strong Steps Forward

Jakarta, Indonesia – 31st August 2018

The Australia Indonesia Business Council (AIBC), the peak body in Australia for the promotion and facilitation of bilateral business ties, is delighted to be participating in activity around the first visit to Jakarta by new Australian Prime Minister, Hon Scott Morrison MP. Central to this visit is the joint announcement just made by the Prime Minister and President Jokowi regarding the conclusion of negotiations on the long-awaited Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

AIBC National President, Phil Turtle, reflected that “Coming so soon after the recent change in Australia’s Leadership, this visit is a clear statement of the importance that the Australian Government places on its relationship with Indonesia.

Former Prime Minister Turnbull enjoyed a wonderfully warm personal relationship with Indonesian President, Joko ‘Jokowi’ Widodo, who most recently visited Australia for the ASEAN-Australia Special Summit held in Sydney in March this year. Our new Prime Minister will undoubtedly be looking to build upon this goodwill, and strive to deepen the relationship that has moved ahead strongly over recent years, underpinned by key defence, security and Foreign Affairs linkages.

The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) will be a strong driver for enhancing the historically ‘underdone’ trade and investment relationship between our countries. In addition to eliminating, or at least significantly reducing, two-way tariffs across all goods, this Agreement will be unique in including special sections covering “Non-Tariff Measures” (NTMs) aimed at initiatives to enhance capacity and build on the complementary aspects of our economies. This will enable Australia and Indonesia to be true partners in many ways, striving for the joint economic prosperity of both countries.

The AIBC is proud to have played an important role in the formulation of IA-CEPA, along with our partners in the Indonesia-Australia Business Partnership Group (IA-BPG). This group comprised of the AIBC, our sister organization the Indonesia Australia Business Council (IABC), ACCI, AiG, KADIN and APINDO. Once again, having such an advisory body formed to support IA-CEPA is unique amongst other Australian Trade Agreements.

The AIBC and the IA-BPG have important roles to play moving ahead, as the IA-CEPA will require focused efforts to communicate the benefits to the respective industry sectors, as well as continually improving and expanding the scope of the Agreement.

A key opportunity for promoting IA-CEPA is the upcoming biennial Conference of the AIBC, to be held on the Gold Coast Nov 11-13 this year. At this forum, key business and political leaders will come together to explore where opportunity lies across a broad range of sectors, and how businesses in both countries can work together for mutual gain.

To this end, the theme of the Conference is ‘Partnering for Prosperity in a World of Change’, recognising that with evolving relationships between world powers, a challenging international economic system and new business models and technologies, that new opportunities abound as Australia and Indonesia seek to strengthen a partnership for mutual prosperity under IA-CEPA.

The AIBC congratulates both Governments, and their respective Negotiating Teams, in achieving a truly unique Partnership between our countries. This story though has a long way to go, and there remains a big job to do to truly transform this vitally important and rewarding relationship with our friends and neighbours in Indonesia.”

- Ends -
 

For more information on the AIBC, please visit: www.aibc.com.au

For comment, please contact:
Phil Turtle
National President
Telephone: 1300 902 878 (AIBC Office) – Toll free Australia only
Mobile:       +61 412 579 757
Email:         president@aibc.com.au

 
 
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