Australia Looking for More Opportunities in Agribusiness, Tourism in Indonesia
Jakarta. Australian Tourism, Trade and Investment Minister Steven Ciobo said Australia is looking for more business opportunities in tourism, agribusiness, services and vocational training in Indonesia.
Speaking at the Indonesia-Australia Business Week (IABW) forum in Jakarta, Steven said the event could create a momentum for both countries to take their business partnership to the next level, especially as part of the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA CEPA).
"There are 1200 Australian business delegates here, this is an opportunity for Australian and Indonesian businesses to come together to boost trade and investment," Steven told reporters on Tuesday (07/03).
Both countries have agreed to finalize IA CEPA's negotiations by the end of this year since they had signed the agreements back in 2013.
Indonesia and Australia also signed an agreement on trade barriers, giving Indonesia lower tariffs on Australian sugar imports.
Indonesia imported 887,888 tons of raw sugar worth US$396 million from Australia last year.
Australia will also remove the tariff on pesticides and herbicides from Indonesia, as well as the tariff on long-term permits for cattle exports.
"[The business partnership] has got to be a win-win for everyone. Good for Indonesian businesses and good for Australia. That's the key to a successful partnership," Steven said.
Shinta Kamdani, the deputy chairwoman of the Indonesian Chambers of Commerce and Industry (Kadin) said Kadin, Indonesian Employers Association (Apindo) and Australian Chambers of Commerce and Industry have created a partnership group to study which sectors are beneficial for both countries and to find local partners to join the partnership.
"The main sectors that Australia is interested in are tourism, infrastructure, renewable energy, agribusiness, food security, cattle, financial technology and education, especially vocational training," Shinta said.
According to the Investment Coordinating Board, or BKPM, data, investment from Australia to Indonesia totaled $174 million last year, a 4 percent increase from $167 million in 2015.
BKPM expects Australian investment in Indonesia to increase to $3 billion in the next 3 to 5 years.
IABW 2017 runs on March 6-10 in Jakarta, Surabaya, Malang, Denpasar and Mataram, featuring seminars, round tables, site visits, product showcases and opportunities for networking with Indonesian businesses, industry and government.
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