Indonesia Australia comprehensive economic partnership agreement

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Media release from The Hon Steven Ciobo MP

Today I met with Indonesia’s Trade Minister Enggartiasto Lukita as momentum builds to concluding a free trade agreement.

While it is unfortunate President Widodo had to postpone his visit, Minister Lukita's decision to visit Australia at this time to discuss the Indonesia-Australia Comprehensive Economic Partnership
Agreement (IA-CEPA) reflects the importance of this agreement to both governments.

IA-CEPA will create the framework for a new era of closer economic engagement between our countries and open new markets and opportunities for Australian businesses, primary producers and service providers.

Negotiations, re-launched earlier this year, are progressing well as we work towards concluding by the end of 2017. Minister Lukita and I have agreed to pursue an ambitious and high quality agreement.

The IA-CEPA has the ability to transform the Australia-Indonesia economic partnership.

While Indonesia is our largest neighbour and important regional partner, our trade and economic relationship can and should be much stronger. Australia’s two-way trade with Indonesia was valued at $15 billion in 2015 making it only our 13th largest trade partner.

The IA-CEPA will bring our economies closer and enable Australian and Indonesian businesses to benefit from the strong complementarities between our economies, creating new export opportunities for Australian businesses.

With a population of more than 255 million – including a middle class of more than 45 million forecast to grow to 135 million by 2020 – the IA-CEPA will open the doors to supply the growing needs of Indonesian consumers with Australian goods and services.

IA-CEPA will also create opportunities for Australian and Indonesian businesses to work together to tap into the burgeoning opportunities to our north.

Media contact

Ben Dillaway
0409 598 102

Milena Stojceska
0438 494 351