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Indonesia, Australia agree to complete CEPA in late 2017

Indonesia and Australia will complete the Comprehensive Economic Partnership Agreement (IA-CEPA) by the end of year, said Indonesia’s President Joko Widodo and Australia’s Prime Minister Malcolm Turnbull.
Indonesia, Australia agree to complete CEPA in late 2017 ảnh 1Indonesian President Joko Widodo (R) and Australian Prime Minister Malcolm Turnbull shake hands prior to a bilateral meeting on the sidelines of the G20 Summit (Source: www.thejakartapost.com)

Hamburg (VNA) – Indonesia and Australia will complete the Comprehensive EconomicPartnership Agreement (IA-CEPA) by the end of year, said Indonesia’s PresidentJoko Widodo and Australia’s Prime Minister Malcolm Turnbull.

Theleaders made the statement during their talks on the sidelines of the G20Summit in Hamburg, Germany on July 7.

TheIA-CEPA will improve the current free trade agreement of the Association of theSoutheast Asian Nations (ASEAN), Australia, and New Zealand, said theofficials.

It is also hoped to boost bilateral trade and investment cooperation, as wellas support Australia’s regional economic integration.

Indonesiaand Australia established comprehensive partnership since 2005. Indonesia isthe 12th largest trade partner and the 11th export market of Australia.

In2014-2015, two-way trade value hit 11.2 billion USD, while the two sides’ investmentin 2014 worth more than seven billion USD.

Over400 Australian businesses have been operating in Indonesia in mining,agriculture, construction, infrastructure, finance, health care, food andtransportation.-VNA

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#Indonesia #Australia #Comprehensive Economic Partnership Agreement #IA-CEPA #G20 Summit #free trade agreement #economic integration #comprehensive partnership #trade partner #vietnamplus #Vietnam News Agency Australia Indonesia
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