Trade Minister Simon Birmingham told The New Daily that he found it «astonishing that CUTA is critics of a trade deal that will actually create more jobs for Australians». Easily accessible information on export and import opportunities under IA-CEPA, AANZFTA and other free trade agreements is available on the FTA portal. Six rounds of negotiations took place between the two countries until February 2017 and Australian Prime Minister Malcolm Turnbull and Indonesian President Joko Widodo (Jokowi) both pledged to end the talks by the end of the year, in March 2017. [9] The continuation of negotiations during the year did not lead to the conclusion of the agreement before the end of 2017, which covered a total of ten rounds until November. [8] In March 2018, Indonesian Foreign Minister M. Retno Marsudi, acknowledged that negotiators were still trying to resolve some issues and extended the deadline to the end of 2018. [10] Indonesian Trade Minister Enggartiasto Lukita also sought to sign the agreement by November 2018 in April. [11] Annual trade in goods and services between Australia and Indonesia is estimated at $11.6 billion. Although neighbors, their trade is relatively small, with Indonesia`s exports to Australia only 1.5 percent of its total exports.

With a population of 260 million, Indonesia is expected to be one of the world`s largest economies by 2030. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) is a bilateral agreement signed between Australia and Indonesia in March 2019 and ratified by Australia in November 2019 and by Indonesia in February 2020. The agreement provides for a free trade agreement that will remove tariffs on almost all products traded between the two countries, relax investment rules in Indonesia for Australian companies and increase the quota for Indonesians wishing to take vocational training in Australia. The Australian-Indonesian agreement will allow Australian companies to participate primarily in investments in different sectors in Indonesia, including health, telecommunications, energy, mining and elderly care. In addition, Australian exporters must ensure that their information in the ABR is correct and up-to-date and accurately matches the information provided on the DOO (company name, ABN number and contact details). The trade ministers of the two countries signed the agreement, whose negotiations began for the first time in 2010, in a Jakarta hotel, with Indonesian Vice President Jusuf Kalla. The Australian Parliament ratified the agreement on 26 November 2019 as part of the Customs Amendment Bill 2019 (with CEPA with Peru, Hong Kong and China) and the Act received Royal Approval on 3 December 2019. [17] The People`s Representation Council ratified the agreement in a plenary session on February 6, 2020. [18] It came into force on July 5, 2020.

[19] «As far as tariff reduction is concerned, this is a very good result.