President: IA-CEPA Boosts Trade with Australia

Antara News are reporting on President Jokowi’s state visit to Australia, where he attended a series of Annual Leaders’ Meeting (ALM) meetings at the Taronga Center, Sydney, on Tuesday, 4 July 2023 and said that the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) had increased the value of Indonesia’s trade with Australia.

“Since the implementation of the IA-CEPA three years ago, relations between the two countries are getting stronger. Trade has increased by 90-percent, investment has also increased by 50-percent, and followed by other developments as well,” President Jokowi said as quoted from a statement by the Presidential Secretariat Press Bureau received by Antara News.

Based on records of the Indonesian Coordinating Ministry for Economy Affairs, Australia has become Indonesia’s strategic partner with investments totalling USD 524-million by 2022, playing an important role in industry and job creation, report Antara News.

The President said there were a number of priority things that had to be done by the two countries, the first of which was to make economic relations more substantive and strategic according to a press release posted on the website of The President of The Republic of Indonesia.

“Indonesia and Australia must build more substantive and strategic economic cooperation, through the joint development of EV battery production,” said the President adding that the IA-CEPA “will continue to be optimized through mutual recognition agreements for fishery products, fruit quarantine and inspection, as well as increasing the capacity of MSMEs.”

Regarding reducing carbon emissions, President Jokowi continues to encourage cooperation in building carbon capture and storage as well as green energy oriented smelters in Indonesia and is encouraging the Australian private sector and the Australian National Capital Authority to cooperate with the IKN Authority, according to the president’s website.

The president also said that he considers Indonesia and ASEAN want the Indo-Pacific region to become a peaceful and stable area, while prioritizing concrete collaboration and cooperation.
“I appreciate Australia’s support for Indonesia’s chairmanship in ASEAN, and invite Australia to strengthen partnerships in the South Pacific through trilateral cooperation, and participate in the ASEAN-Indo Pacific Forum,” he continued.

In his statement, Australian Prime Minister (PM) Anthony Albanese said that relations between Indonesia and Australia continued to improve as partners in various fields.

“Today, relations between Indonesia and Australia are getting better and the two countries are getting closer as partners in the economy, security and partners in the global transition towards net zero ,” said PM Albanese.

PM Albanese also assessed that Indonesia’s security and stability conditions had a positive impact on the Indo-Pacific region.

“Indonesia’s prosperity, security and stability have made the Indo-Pacific region more prosperous, safe and stable,” he said.

Source: Antara News, The President of The Republic of Indonesia website, BPMI Setpres

Image by BPMI Setpres/ Laily Rachev

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