Jakarta, 25 October 2023 – The trend of trade cooperation between Indonesia and Australia continues to increase following the implementation of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA), which was agreed upon in 2019.
As conveyed by the Indonesian Ambassador to Australia Siswo Pramono at the Indonesia-Australia business forum with the theme “Indonesia-Australia Growing Together” on Saturday (21/10) in Tangerang, Banten, since the birth of IA-CEPA, Indonesia and Australia have enjoyed an increase in the trade value of 86% plus there is a 168-170% increase in the value of Australian investment in Indonesia.
“Relations between Indonesia and Australia have become stronger in recent years. Since the birth of IA-CEPA, Indonesia and Australia have enjoyed an increase in trade value of 86%. Then, there was a 168-170% increase in the value of Australian investment in Indonesia. “So, business actors can continue to optimize IA-CEPA,” said Ambassador Siswo as quoted by the Ministry of Trade’s official website, Sunday (22/10/2023).
Siswo also explained that Australia had once again become one of the top 10 investors in Indonesia.
Meanwhile, Secretary of the PPI Directorate General, Ari Satria, stated that Indonesia and Australia have experienced rapid progress in economic relations, especially since the implementation of IA-CEPA three years ago. The signing of IA-CEPA opens up so many opportunities for both countries.
“Indonesia can boost export performance through IA-CEPA. Apart from that, Indonesia can also improve itself in the global value chain through IA-CEPA. “Not only that, IA-CEPA can increase the competitiveness of investment originating from abroad,” said Ari.
Original article in Bahasa Indonesia can be accessed here