CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. Business Groups Seek Progress On Australia-Indonesia FTA

Business Groups Seek Progress On Australia-Indonesia FTA

by Mary Swire, Tax-News.com, Hong Kong

27 February 2017


Businesses from Australia and Indonesia have urged officials to reach an agreement on a new trade deal by August, the target date set by ministers.

Business groups from Indonesia and Australia gathered in Canberra, Australia, to support officials engaged in the sixth round of negotiations for the Indonesia-Australia Comprehensive Economic Partnership Agreement.

In a statement, the Indonesia-Australia Business Partnership Group said negotiators should look to make "strong headway."

The Group said: "We wish to harness the comparative advantages of both countries, a combined marketplace of nearly 300 million people, and work together to service the three billion people in our region and beyond."

"The complementarity of the two economies offers an exciting backdrop for the negotiations. One neighbor's weaknesses are the other's strengths, one's problems the other's opportunities. These are ideal settings for strong partnerships spanning agriculture to education, infrastructure to tourism."

Negotiations were originally launched in 2010. Only two rounds of talks were held between 2010 and July 2013, and it was not until March 2016 that the two parties announced their intention to "re-activate" negotiations. Three negotiating rounds were held between May and November 2016.

Two-way trade in goods and services was valued at AUD14.8bn (USD11.4bn) in 2014-15. Two-way investment was worth an estimated AUD9.6bn in 2014.

The Business Partnership Group comprises six business advocacy groups from the two groups – the Australian Chamber of Commerce and Industry, the Australia Indonesia Business Council, the Australian Industry Group, Kadin Indonesia, the Indonesia Australia Business Council, and The Employers' Association of Indonesia.

TAGS: investment | business | free trade agreement (FTA) | export duty | tariffs | trade treaty | investment treaty | Australia | agreements | education | Indonesia | import duty | trade association | trade | services

To see today's news, click here.

Leave a comment

Read our Posting Guidelines

 






Close

Password Reminder

Please enter your email address to receive a password reminder.

 






Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Tax-News+ Updates

Receive FREE daily updates from Tax-News.com, straight to your inbox. Register Now!

For a tailored solution, choose to receive selected news updates for your preferred jurisdictions and topics, with our enhanced Tax-News+ subscriber service. Read more...

 

Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »