Indonesian trade agreement vital for Australia’s competitiveness

A trade agreement with one of our nearest neighbours will help raise living standards in both Australia and Indonesia through freer trade and investment, Business Council chief executive Jennifer Westacott said today.

“Australia now more than ever needs to double down on getting competitive which is why we welcome the signing of the Indonesia-Australia Comprehensive Economic Partnership Agreement.

“The agreement will see Australian exporters enjoy better access to Indonesian markets across a range of goods and services, including agricultural commodities such as livestock feed and industrial products like steel, and services like education and vocational training.

“The best protection for Australian workers is a growing economy fuelled by new investment and easier access to global markets. This agreement will help diversify Australia’s trade and strengthen our economic and cultural relationship with one of our closest and largest neighbours.

“The agreement will also help encourage Indonesians to look to Australia more for potential markets, education, training and other services.

“This is also an important agreement for a large developing country like Indonesia, and it demonstrates both Australia’s and Indonesia’s commitment to rules-based global trade at a time when the voices against freer and more liberal trade are increasingly loud.”