New export opportunities for Australian farmers, businesses and investors will begin to flow with the start of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).
Member for Barker Tony Pasin said the landmark trade agreement with Indonesia would provide an export boost for Barker farmers and businesses.
“This is the most comprehensive bilateral trade agreement Indonesia has ever signed, and will give our exporters a competitive edge in what is one of the fastest growing economies in the world,” Mr Pasin said.
With a population of over 260 million and a growing middle-class, Indonesia presents huge opportunities for our exporters across a range of sectors including agriculture, education, tourism, energy and mining services.
“There are major wins across the board for Australian farmers – producers of grains, live cattle and meat, dairy and horticulture, and many other products will benefit from lower tariffs and improved access to Indonesian markets.
“For example, our grains growers will now be able to export 500,000 tonnes of feed grains including wheat and barley into Indonesia tariff free. This will provide a significant boost for the Australian grains industry, building on our substantial milling wheat exports,” Mr Pasin said.
Mr Pasin said, with one in five jobs trade related, enhancing opportunities for our exporters, with key trading partners such as Indonesia will be crucial to reducing job losses arising from the COVID-19 pandemic and a critical part of our ultimate economic recovery.
The Coalition Government has a strong track record when it comes to trade. In the past six years securing duty-free or preferential access to an extra 1.7 billion consumers in other economies.
Trade as a whole is now equivalent to 45 per cent of Australian GDP and is directly responsible for one in five Australian jobs.
Facts on trade with Indonesia:
• Indonesia is currently our 13th largest export market and there is huge potential for the relationship to grow.
• The IA-CEPA will provide big ticket items for Australian exporters, including preferential access into the Indonesian market for our cattle farmers and citrus producers.
• Under IA-CEPA, 99 per cent of Australian goods (by value) will enter Indonesia duty-free or under improved preferential arrangements.
Media Contact: Charlotte Edmunds 8531 2466