IA-CEPA Media Release - 31st August 2018


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.  To continue reading the Media Release, please click here.