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IA-CEPA Will Strengthen Australia-Indonesia Bilateral Relationships
Written by andi permadi
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Voinews.id,Jakarta: The Australian Ambassador to Indonesia, Penny Williams PSM stated to just under 15 ACICIS students at morning tea that Australia is starting to reconsider Indonesia as an investment destination.
While the students snacked on lamingtons and drank the free coffee, Ambassador Williams explained that while Australia and Indonesia have a very longstanding, very embedded bilateral relationship that has quite a lot of depth to it, she also noted that Australian and Indonesian economic engagement was not as strong as someone would think, relative to the size of the Indonesian market and relative to the size of their bilateral relationships.
She elaborated this statement while discussing the Indonesian-Australian Comprehensive Economic Partnership Agreement (IA-CEPA), which was established in 2020 to help facilitate greater economic ties between the two nations.
Ambassador Williams explained that agreements like IA-CEPA provides Indonesia with tariff free access to Australian markets, along with providing greater market access to both Australian and Indonesian companies.
She stressed that IA-CEPA is really important, but it’s all the other work that gets people to understand the markets of each nation in order to find the opportunities and the synergies.
“Business needs to talk to business, government can take them but business needs to talk to business,” She said.
Ambassador Williams also told the students how “Australia had the largest delegation at the B20, a promising sign that Australians are reconsidering Indonesia as an investment destination. She also discussed how Australian businesspeople and pension funds are now eyeing Indonesia as a next potential investment.
Ambassador Williams stated how the Australian and Indonesian bilateral relationship is currently in a “really strong place,” with Australia enjoying a “deep relationship with its close neighbour,” which she was confident agreements like IA-CEPA will only strengthen. (Gera K/DP)
