Indonesia, Australia optimistic about economic cooperation

Illustrative image (Photo: JOC)

Jakarta (VNA) - Indonesian Trade Minister Muhammad Lutfi is optimistic that trade exchanges between Indonesia and Australia will revive under the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA).

Lutfi said bilateral trade in the first half of 2021 has grown positively compared to 2020. This is a good sign and the two countries will further strengthen cooperation.

The COVID-19 pandemic has set a major obstacle to trade between the two countries. However, two-way trade should stabilise after the border is reopened as soon as possible.

Australian Trade Minister Dan Tehan said the two sides will strengthen economic cooperation more comprehensively. He said there are many potential investment areas in Indonesia, including education, renewable energy, minerals and rare earth metals.

Another potential area is the development of electric cars in Indonesia, and Australia is very confident to become a supplier of some important materials to help Indonesia develop electric vehicles in the future./.

VNA