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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

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

Michael Mugliston

Special Negotiator

Free Trade Agreement Division

7 March 2011

australia indonesia
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
asean our second largest trading partner but what about australia indonesia
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

australia s investment in indonesia
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

indonesia s investment in australia
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

indonesia australia comprehensive economic partnership agreement ia cepa negotiations
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.
key aanzfta outcomes
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
key aanzfta outcomes cont d
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
next steps ia cepa
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.
conclusion
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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