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Indonesia And Australia Reactivate Their Economic Partnership Agreement (IA-CEPA)

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Indonesia-Australia

The Reactivation of the Indonesia/Australia-CEPA 

 

 

 

 

 

 

Canberra, 17 March 2015 – Indonesia and Australia have agreed to reactivate the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) to build a win-win partnership that places creativity and innovation at the forefront.

This was said by the Indonesian Minister of Trade, Thomas Trikasih Lembong, after meeting the Australia’s Minister for Trade and Investment, Steven Ciobo, along with Australia’s Special Envoy for Trade, Andrew Robb, at the Parliament House in Canberra, Australia, yesterday, Wednesday (16/3).

According to the Trade Minister the reactivation of the IA-CEPA would also be based on two main principles. “The first is that Indonesia and Australia would strive to ensure that the IA-CEPA would be comprehensive and provide maximum results with regards to goods and services trade, investment and economic cooperation, and also a balance in terms of providing benefits for both parties.

The second is that this agreement must also be established in view of multilateral and regional agreements as well as previous and on-going negotiations between Indonesia and Australia,” explained Trade Minister Tom at the Joint Press Conference held on the same day.

Trade Minister Thomas Lembong and Minister Ciobo is adamant that bilateral trade and investment between Indonesia and Australia can be further developed. Economically, Indonesia and Australia could complement each other in addition to the geographic proximity of the two countries.

As the first step, both countries have greed to provide the results that have been obtained with the implementation of free trade agreements. Trade Minister Thomas Lembong and Minister Ciobo both said that they were pleased with the results of the early indentification conducted by the negotiation team, comprising meat and cattle, skills, financial services, professional services, processed food, food and medicine standards, agriculture, design, and infrastructure and education.

“The early identification reasserts the importance of the IA-CEPA and other projects that might be established through future agreements,” said Thomas Lembong. The Trade Minister and Minster Ciobo said that they have instructed related officials to work based on these early identifications so that they can quickly achieve a final understanding by the end of this year.

The success of this cooperation between Indonesia and Australia will become a new platform that would carry trade relations between Indonesia and Australia to becoming more modern and dynamic. Tom said that this also reflected how close relations are between Indonesia and Australia.

“Both countries are determined to create a conducive situation to develop trade and investment that would maximize the potential of economic relations between Indonesia and Australia,” said Thomas Lembong.

During the occasion, Trade Minister Thomas Lembong and Minister Ciobo also expressed their appreciation for the level of success in the business sector of both countries while at the same time announcing the commencement of the reactivation of the Indonesia-Australia Business Partnership Group (IA-BPG) to renew various reports and recommendations.

When viewed from previous reports, the business community collaborations between Indonesia and Australia should lead to an increase in the development of various negotiations. To close the meeting, Thomas Lembong and Minister Ciobo asked their subordinates to swiftly follow up the IA-CEPA progress.

The following step, which is the 3rd round of negotiations, will be conducted at the beginning of May 2016 in Indonesia.

{Source: Indonesia Ministry of Trade-Public Relations Center}

[photo credits-featured image:  The Tengger massif in Java, Indonesia, at sunrise, showing the volcanoes Mt. Bromo (large crater, smoking) and Mt. Semeru (background, smoking). – By Thomas Hirsch (= user Ravn) (made by Thomas Hirsch) [GFDL (http://www.gnu.org/copyleft/fdl.html) or CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/)], via Wikimedia Commons ]

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