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Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) Update. Michael Mugliston Special Negotiator Free Trade Agreement Division 7 March 2011. Australia – Indonesia. The region’s two largest economies

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Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) Update

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Indonesia australia comprehensive economic partnership agreement ia cepa update l.jpg

Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) Update

Michael Mugliston

Special Negotiator

Free Trade Agreement Division

7 March 2011


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Australia – Indonesia

  • The region’s two largest economies

  • One of Australia’s most important bilateral relationships on almost all fronts

  • Scope exists for improving trade and investment relationship


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ASEAN our Second Largest Trading Partner: But what about Australia - Indonesia?

Australia’s Trade with ASEAN ($billion)

Australia’s Major Trading Partners (% 2009-10)

8.6 per cent annualised growth

Source: ABS, Treasury analysis


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Two-way Goods and Services Trade ($billion)

Source: ABS


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Australia’s Investment in Indonesia

Australia’s total investment in Indonesia ($ billion)

Australian investment in ASEAN by Country (2009)

16 per cent annualised growth in total investment

Source: ABS


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Indonesia’s Investment in Australia

Indonesia’s total investment in Australia ($ billion)

Investment in Australia by ASEAN Countries (2009)

12 per cent annualised decline since 2005

Source: ABS


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Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) Negotiations

  • Launched by Leaders, Nov 2010

    • covering trade, investment and economic cooperation issues

  •  Negotiations will take into account:

    • the ASEAN-Australia-New Zealand FTA (AANZFTA); and

    • Australia-Indonesia FTA Joint Feasibility study, April 2009.


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Key AANZFTA Outcomes

  • AANZFTA expected to enter into force for Indonesia in the near future

  • Extensive tariff reduction and elimination commitments

    •  Indonesia to eliminate duties on 93.2 per cent of tariff lines by 2025

      • covering 93.4 per cent of Australia’s exports

    •  Australia to eliminate duties on 100 per cent of tariff lines by 2020


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Key AANZFTA Outcomes (cont’d)

  • Enhanced certainty through “WTO-plus” services commitments

  • Legal protections for investment

  • Commitments in intellectual property and competition policy

  • Regionally focussed economic cooperation to assist ASEAN countries implement the Agreement


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Next Steps: IA-CEPA

  •  DFAT call for industry submissions

    • Welcome inputs on trade, investment and economic cooperation interests 

  • Joint Feasibility study highlights some key “AANZFTA-plus” interests for both sides.

  • Pre-negotiation consultations

  • Further Engagement: G2G, G2B, B2B.


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Conclusion

  • AANZFTA paves the way for deeper economic integration with ASEAN

  • IA-CEPA represents a further step towards realising a higher-level and mutually beneficial economic partnership between Australia and Indonesia

  • Follow progress at http://www.dfat.gov.au/fta/iacepa/index.html


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