Two Neighbours, Partners in Prosperity | Indonesia-Australia Business Partnership Group Submission towards the Indonesia-Australia Comprehensive Economic Partnership Agreement
This position paper has been released by the Indonesia-Australia Business Partnership Group (IA-BPG), which comprises the Indonesian Chamber of Commerce and Industry (KADIN), the Australian Chamber of Commerce and Industry, APINDO, Ai Group, the Indonesia-Australia Business Council (IABC) and the Australia-Indonesia Business Council (AIBC).
The Indonesia-Australia Business Partnership Group (IA-BPG) welcomes and supports the creation of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA). IA-BPG strongly believes that IA-CEPA should be a unique agreement, with a unique approach.
IA-BPG Position Paper on IA-CEPA
The Indonesia-Australia Comprehensive Economic Partnership (IA-CEPA) will create the framework for a new era of closer economic engagement between Australia and Indonesia and open new markets and opportunities for businesses, primary producers, service providers and investors. IA-CEPA will build on existing multilateral and regional agreements including AANZFTA and be as comprehensive as possible. Australian and Indonesian Trade Ministers reactivated negotiations in March 2016 after they were first launched by Leaders’ in 2010.
Negotiators are meeting approximately every three months and working groups have been established to progress work in a number of areas including: trade in goods, rules of origin, customs procedures and trade facilitation, technical barriers to trade, sanitary and phytosanitary measures, services, investment, telecommunications services, e-commerce, financial services, competition policy, institutional and framework provisions and economic cooperation.
A number of outcomes from IA-CEPA have been brought forward to demonstrate the benefits of closer economic cooperation between Australia and Indonesia. Early outcomes that have already been progressed include the Indonesia-Australia Business Partnership Group, the Red Meat and Cattle Partnership, and cooperation on Financial Services and in the Creative Industries (fashion and jewellery).
The IA-CEPA could address impediments to bilateral trade, including both tariff and non-tariff barriers.
IA-CEPA could improve access to each other’s services markets and address impediments to increasing Australian investment in Indonesia and Indonesian investment in Australia.
Economic cooperation under IA-CEPA could assist in the implementation of the agreement, support trade facilitation and provide a pathway for future liberalization.
Free Trade Agreements IA-CEPA
March 02, 2017